We have the following data for a hypothetical open economy: GNP = $12 comma 00012,000 Consumption (C) = $7 comma 2007,200 Investment (I) = $1 comma 0001,000 Government Purchases (G) = $1 comma 6001,600 Tax Collections (T) = $1 comma 2001,200 What is the value of private savings plus public savings? $nothing (Enter your answer as an integer. Include a minus sign if necessary.) What is the value of the current account balance CA? $nothing (Enter your answer as an integer. Include a minus sign if necessary.)

The value of private savings plus public savings is $3,200

The value of the current account balance CA is $2,200

Explanation:

In order to calculate the value of private savings plus public savings we would have to make the following calculation:

Total saving = private saving+public saving

Total saving =GNP-Tax Collections-Consumption+Tax Collections-Government Purchases

Total saving =$12,000-$1,200-$7,200+$1,200-$1,600

Total saving =$3,200

To calculate the value of the current account balance CA we would have to make the following calculation:

value of the current account balance CA=GNP-Consumption-Investment-Government Purchases

value of the current account balance CA= $12,000 - $7,200 -$1,000-$1,600

value of the current account balance CA= $2,200