If an economy is closed and if it has no government, then
a. national saving = private saving.
b. total income = consumption + investment.
c. saving = total income - consumption.
d. All of the above are correct.
d
Economics
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For a firm in monopolistic competition, define efficient scale and excess capacity. Briefly explain each
What will be an ideal response?
Economics
We observe evidence of a shortage when we see
A) the quantity purchased is greater than the quantity supplied. B) the quantity purchased is less than the quantity supplied. C) nonmonetary costs of acquisition have risen. D) goods have becomes more scarce. E) prices have increased suddenly and substantially.
Economics