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For an imaginary closed economy, T = $5,000; S = $11,000; C = $50,000; and the government is running a budget deficit of $1,000. Then1)private saving = $12,000 and GDP = $67,000.2)private saving = $10,000 and GDP = $54,000.3)private saving = $10,000 and GDP = $58,000.4)private saving = $12,000 and GDP = $72,000.

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