The Total Amount of Saving in an Economy Is a Measure

question 48

True/False

The total amount of saving in an economy is a measure of the amount of resources that a country has available for investment, either in its own country or abroad.

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Definitions:

Equilibrium Price

The rate at which the volume of goods available meets the volume of goods sought.

Surpluses

The amount by which supply exceeds demand, often referring to goods, services or public finances.

Shortages

A situation where the demand for a product or service exceeds the supply available at a specific price.

Price Floor

A government- or authority-imposed minimum price set above the equilibrium price, preventing sellers from trading at lower prices.