In a closed economy without the government, income equals:
A) aggregate savings plus aggregate investment. B) aggregate consumption.
C) aggregate savings. D) aggregate savings plus aggregate consumption.
D
Economics
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The price of leisure is the
a. wage rate. b. interest rate. c. discount rate. d. rate of return on investment.
Economics
A model can be accurately described as a
a. theoretical abstraction with very little value. b. device that is useful only to the people who created it. c. realistic and carefully constructed theory. d. simplification of reality.
Economics