a) What are the 4 components of GDP (5 Points) Assume the economy...

a) What are the 4 components of GDP (5 Points)

Assume the economy is described by the following equations:

Y Y F(K,L)1,200

YCIG

C 1250.75(Y T)

I I(r)20010r

G  G  150

b) Given the above equations, solve for the value of savings (S). Hint: Savings equals

Investment