The difference between "saving" and "savings" is that
A) saving is done by households and savings by businesses.
B) saving is undertaken as a precaution against unemployment and savings are undertaken to increase investment spending.
C) savings are the result of past and current saving.
D) saving is placed in financial institutions such as banks, while savings are kept at home by people.
C
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Payroll taxes are paid on
A) earned income. B) investment income. C) inheritances. D) all of the above
In practice, one of the principal problems with aggregate demand management is that
A) changes in aggregate demand do not affect output. B) changes in aggregate demand cannot reduce unemployment. C) changes in aggregate demand are highly inflationary. D) stabilization policies could increase aggregate demand too much and at the wrong times.
The Lorenz curve demonstrates:
A. inequality visually; the more linear the curve, the less inequality exists. B. inequality visually; the more linear the curve, the more inequality exists. C. average income levels per capita; the more linear the curve, the less inequality exists. D. average income levels per quintile; the more linear the curve, the more inequality exists.
The theory of education that states firms use educational attainment as a way of sorting between high-ability and low-ability workers is called