The LCH theory argues that
A) over time, the saving rate of low-income people tended to rise at a faster rate than that of other income groups.
B) the aggregate saving rate depended on the age distribution within the economy.
C) over time, the aggregate saving rate was relatively constant.
D) over time, the aggregate saving rate would increase.
B
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Indifference curves close to the origin are ________ those farther from the origin because of ________
A) better than; transitivity B) worse than; nonsatiation C) better than; completeness D) worse than; transitivity
Other things the same, as the price level falls,
a. the dollar depreciates. b. the interest rate rises. c. people feel less wealthy. d. All of the above are correct.
The poverty rate is
A. the total amount of money that would have to be transferred to households in poverty to raise them out of poverty. B. the amount of money the poor must earn from work. C. the percentage of people in households with income under the poverty line. D. that level of income sufficient to provide a family with a minimally adequate standard of living.
If a model assumes that people take into account other people's interests, it is probably a:
A. traditional model. B. natural model. C. heuristic model. D. behavioral model.