The table below shows macroeconomic data for a hypothetical open economy:
| Macroeconomic variable | Value (£ billion) |
|---|---|
| Savings (SSS) | 60 |
| Investment (III) | 45 |
| Government Spending (GGG) | 85 |
| Taxation (TTT) | 75 |
| Imports (MMM) | 40 |
| Exports (XXX) | 55 |
Based on this data, which of the following statements is correct?
The circular flow of income is in equilibrium because total injections equal total withdrawals.
There is a net injection of £10 billion into the circular flow of income.
There is a net withdrawal of £10 billion from the circular flow of income.
There is a net withdrawal of £20 billion from the circular flow of income.
