00:01
All right here we have this information of an open economy where the gdp is 3 ,000.
00:05
We have the consumption, the government purchases, the taxes, interest payments, exports, imports, and the rest where we need to find the private savings.
00:13
The private savings.
00:14
Now, the private savings is going to be equal to the gdp.
00:20
We're going to take the gdp and we're going to subtract the net taxes.
00:25
Now, the net taxes is going to be we're going to take the taxes and subtract from it the government interest payments.
00:32
And then we're also going to subtract the consumption.
00:37
All right.
00:38
So once we find these three things, the net taxes, the gdp, and the consumption, we'll have our answer.
00:44
The gdp, as it says, is 3 ,000.
00:48
And then we're going to subtract...