Based on the information given, the private savings will be $10000 and the gross domestic product is $63000.
From the information given, he following can be gotten:
Since, S = Y - C - G
11000 = Y - 48000 - G
Y - G = 48000 + 11000
Y - G = 59000
Budget surplus = T - G = 1000
5000 - G = 1000
G = 5000 - 1000 = 4000
The GDP will be:
Y - G = 59000
Y - 4000 = 59000
Y = 59000 + 4000 = 63000
Private savings = Y - T - C
Private savings = 63000 - 5000 - 48000
Private savings = 10000
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