Following table are the data for the Australian economy (β=1.6) in four selected years. Using Okun’s law, fill in the missing data in the table.Rate (%)Rate (%)GDPAn economy is described by the following equationCd=14400+0.5(Y-T)-40000r, Ip=8000-20000r,G=7800, NX=1800, T=8000The demand for car in a country is given by D=12 000-200P, where P is the price of a car. Supply domestic car production is S=7000+50P.Use the following economic data to calculate private saving, public saving and national saving.
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