Answer:
$1,000; $1,000
Explanation:
Given that,
Household saving = $300
Business saving = $700
Government purchases = $1,000
Government transfers and interest payments = $500
Government tax collections = $1,500
GDP = $5,000
Public saving:
= Government tax collections - Government purchases - Government transfers and interest payments
= $1,500 - $1,000 - $500
= $0
Private savings:
= Household saving + Business saving
= $300 + $700
= $1,000
National savings:
= Public saving + Private saving
= $0 + $1,000
= $1,000
