What is total savings in the nation as percentage of GNP

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Use the following table to answer the next question(s). All values are measured as a percent of GNP.

Savings by Households : 3 percent

Saving by Businesses : 15 percent

Private Investment: 14 percent

Net Taxes Paid: 20 percent

Government Spending On Goods & Services : 22 percent

(a) What is total savings in the nation as a percentage of GNP?

(b) What is the current account balance as a percentage of GNP? Is there a current account surplus or deficit?

Reference no: EM131102759

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