What happens to saving when interest rates rise?
A. It increases.
B. It decreases.
C. It can increase or decrease.
D. Saving decisions are independent of interest rates.
C. It can increase or decrease.
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Which of the following is true? i) A rational choice is made on the margin. ii) Microeconomics is the study of the national economy while macroeconomics is the study of the global economy. iii) Economists try to understand how the economic world works by testing normative statements.
A. Only ii B. i and ii C. Only iii D. i and iii E. Only i
Consider the market for heart transplants. The demand for a heart transplant is perfectly inelastic and the supply curve is upward sloping
If a $1,000 tax per transplant tax is imposed on buyers (the recipients), how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.
Patterns of interregional trade are primarily determined by ________ rather than ________ because factors of production are generally ________
A) external economies; natural resources; mobile B) internal economies; external economies; mobile C) external economies; population; immobile D) internal economies; population; immobile E) population; external economies; immobile
Refer to above figure. The loss of Consumer Surplus due to the tariff equals ________
Fill in the blank(s) with correct word