In a closed economy, private saving is
a. the amount of income that households have left after paying for their taxes and consumption.
b. the amount of income that businesses have left after paying for the factors of production.
c. the amount of tax revenue that the government has left after paying for its spending.
d. always equal to investment.
a
You might also like to view...
In the mid 1990s countries of the world exported $6.5 trillion dollars worth of goods and services. How large were total world imports of goods and services during this period? Explain your answer
Comparing international trade with trade among the different states of the United States shows that
a. the logic of international trade is quite different from that of intranational trade. b. the basic reasons for trade are equally applicable within a country or among countries. c. there is no need to study international trade as a special subject. d. All of the above are correct.