According to Keynes, the most important determinant of an individual's real saving is

While high-paid American workers fear competition with low-paid foreign workers, low-paid foreign workers fear competition with high-paid American workers. Why?

A) Because high wages are the result of extensive tariff and other trade restrictions. B) Because high wages reflect high worker productivity and the low-paid foreign workers are not as productive. C) It is completely irrational and unfounded. D) Because America has such a large market it can protect its workers. E) Because high wages mean that U.S. workers can buy more goods and services.

Other things being equal, the increase in rents that occurs after rent controls are abolished is smaller when

A) the own price elasticity of demand for rental homes is price inelastic. B) the own price elasticity of demand for rental homes is price elastic. C) the own price elasticity of demand for rental homes has unitary price elasticity. D) rented homes and owned homes are complements. E) rented homes and owned homes are substitutes.