The table below shows selected macroeconomic data for an open economy with a government sector:
| Macroeconomic variable | Value (£ billion) |
|---|---|
| Savings (SSS) | 45 |
| Business Investment (III) | 35 |
| Government Expenditure (GGG) | 50 |
| Taxation (TTT) | 40 |
| Export Revenue (XXX) | 30 |
| Import Expenditure (MMM) | 38 |
Which of the following correctly identifies the net relationship between injections and withdrawals, and its primary effect on the circular flow of income?
There is a net withdrawal of £8 billion, exerting downward pressure on national income.
There is a net injection of £8 billion, exerting upward pressure on national income.
There is a net withdrawal of £18 billion, exerting downward pressure on national income.
There is a net injection of £12 billion, exerting upward pressure on national income.
