The savings rate designates:
A) the difference between household consumption and savings.
B) the difference between government revenue and government expenditure.
C) the rate of return households earn on their savings.
D) the fraction of income that households save.
D
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_____ is a resource whose quality is most often enhanced by technological change
a. Capital b. Land c. Labor d. Entrepreneurship e. Credit
New classical economists advocate less government intervention than the new Keynesian school of thought
a. True b. False Indicate whether the statement is true or false
By how much does the real, bilateral exchange rate change when the nominal, bilateral exchange rate changes from $1.40/£ to $1.60/£, the U.S. tradable basket from $2,100 to $2,200 and the British tradable basket from £1,500 to £1,600?
a. The real exchange rate rises by 16.35%. b. The real exchange rate rises by 3.1% c. The real exchange rate falls by 3.1% d. The real exchange rate falls by 10.8% e. The real exchange rate rises by 12.5%.
Exhibit 21-3 Potatoes and wheat output (tons per day) CountryPotatoes Wheat United States4 2 Ireland3 1 In Exhibit 21-3, the United States has an absolute advantage in producing:
A. potatoes. B. wheat. C. both. D. neither.