In a closed economy, national saving is
a. usually greater than investment.
b. equal to investment.
c. usually less than investment because of the leakage of taxes.
d. always less than investment.
b
You might also like to view...
The diagram above depicts the demand for, and market price of, buckets of raw oysters in Orlando
a. What is the consumer surplus of the person who buys the 100th bucket of oysters? b. What is the consumer surplus of the person who buys the 200th bucket of oysters? c. What is the consumer surplus of the person who buys the 300th bucket of oysters? d. What is the total consumer surplus from all the oysters consumed in the market?
An increase in the price of steel to producers of refrigerators will cause
A) the quantity demanded for steel to increase. B) the demand for refrigerators to decrease. C) the quantity supplied of refrigerators to increase. D) the supply curve for refrigerators to shift left.
A jeweler cut prices in his store by 20%. As a result: a. Its total revenue would fall by 20% if the elasticity of demand was zero
b. Its total revenue would fall, but by less than 20% if the elasticity of demand is greater than zero but less than one. c. Its total revenue would rise if the elasticity of demand is greater than one. d. All of the above would be true.
The marginal rate of substitution between two goods is given by:
A. the inverse of the slope of an indifference curve. B. the slope of a line tangent to an indifference curve. C. negative one times the inverse of the slope of an indifference curve. D. negative one times the slope of a line tangent to an indifference curve.