Use the following to answer questions 7-9:
Use this scenario to answer questions 32-36.
Scenario: Open Economy S = I
In an open economy suppose that GDP is $12 trillion. Consumption is $8 trillion and government spending is $2 trillion. Taxes are $0.5 trillion. Exports are $1 trillion and imports are $3 trillion.
(Scenario: Open Economy S = I) How much is private saving?
$3.5 trillion