Suppose Private Saving in a Closed Economy Is $15b and Investment

question 30

Multiple Choice

Suppose private saving in a closed economy is $15b and investment is $7b.

• A)National saving must equal $15b.
• B)Public saving must equal $8b.
• C)The government budget surplus must equal $8b.
• D)The government budget deficit must equal $8b.

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Definitions:

Compatible

Being able to exist or work together in combination without conflict or problems.

Clear Elements

Essential aspects or components that are easily understood and free from ambiguity or complexity.

Schwartz's Values Model

A theory that identifies ten basic personal values that are recognized across cultures and that guide individuals' behavior and decision-making.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, and the desire to do a task well.