North Land, is a closed-border economy, have the following macroeconomic data: GDP= 35,000 Consumption - 9,000 Taxes = 4,000 Government spending - 3800 investment function is 22.600-120r; r is the real interest rate expressed as a percentage. Calculate the private savings, public saving, national saving, investment, and the equilibrium real interest rate. Match the correct answers to the correct variable private savings Choose.. public savings Choose... national savings Choose... interest rate Choose... investment Choose..

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Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.