Define saving
What will be an ideal response?
is generated when current consumption is less than current output (or when current spending is less than current income). The economic term used to define a situation where current consumption is more than current output (or current spending is more than current income) is dis saving.
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In an economy, the value of inventories was $75 billion in 2009 and $63 billion in 2010. In calculating total investment for 2010, national income accountants would ________.
A. increase it by $138 billion B. increase it by $63 billion C. decrease it by $12 billion D. decrease it by $75 billion
When the prisoners follow their dominant strategy and confess, they will be worse off than if both had remained silent—hence, the "prisoners' dilemma."
a. True b. False Indicate whether the statement is true or false
The kinked demand curve model is based on the assumption that firms' pricing decisions are independent of one another because demand is determined by non-market forces
Indicate whether the statement is true or false
Other things the same, if a country has a trade deficit and saving rises,
a. net capital outflow rises, so the trade deficit increases. b. net capital outflow rises, so the trade deficit decreases. c. net capital outflow falls, so the trade deficit increases. d. net capital outflow falls, so the trade deficit decreases.