How much is saving?
C = $4.5 trillion
Disposable income = $5 trillion
Autonomous consumption = $3 trillion
500 or $500 billion
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Refer to Edgeworth Box Economy. Analysis of an Edgeworth box economy shows that a competitive equilibrium
a. must be Pareto optimal. b. can be located anywhere along the contract curve. c. may lie anywhere within the region of mutual advantage. d. must lie to the southeast of the endowment point.
Which of the following is NOT a characteristic of rent controls?
A. Fewer newly built apartment buildings. B. Greater availability of apartments. C. Lower expenditures on maintenance. D. Excess demand for apartments.
Prior to 1863, all commercial banks in the United States
A) were chartered by the U.S. Treasury Department. B) were chartered by the banking commission of the state in which they operated. C) were regulated by the Federal Reserve. D) were regulated by the central bank.
Which of the following is NOT correct regarding the theories of income distribution?
A. Dealing with how income ought to be distributed is a normative issue. B. The egalitarian principle of income distribution is "to each exactly the same." C. The productivity standard for the distribution of income is stated "to each according to what they produce." D. Dealing with how income should be distributed is a positive economic issue.