Use the following graph for a private closed economy (an economy with only a private sector and no international trade) to answer the next question.
At the equilibrium level of real GDP, saving will be
A. $100 billion.
B. $50 billion.
C. undeterminable from the information given.
D. $150 billion.
Answer: A
You might also like to view...
If the Fed raises the interest rate, in the foreign exchange market the demand for the U.S. dollar increases
Indicate whether the statement is true or false
What is the difference between diminishing marginal returns and diseconomies of scale?
What will be an ideal response?
An increase in the money supply will appreciate a country's currency.
Answer the following statement true (T) or false (F)
Labor productivity is
A. the average amount produced per worker. B. the average amount produced times the number of people in the labor force. C. the average amount produced times the number of workers. D. the rate of change in the total amount produced per worker.