In a Private Closed Economy, _____ Investment Is Equal to Saving

question 4

Multiple Choice

In a private closed economy, _____ investment is equal to saving at all levels of GDP and equilibrium occurs only at that level of GDP where _____ investment is equal to saving.

• A) planned; actual
• B) actual; planned
• C) gross; net
• D) net; gross

Compute and interpret financial ratios and their significance to business performance.

Understand the concept and importance of internal control procedures over cash and other assets.

Comprehend the role and elements of a voucher system in internal control.

Grasp the objectives and significant components of internal control systems.

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Definitions:

Gummed Seal

A type of adhesive closure used on envelopes and packages that becomes sticky when moistened.

Heavy Machinery

Large and heavy equipment and machinery used in industries such as construction, mining, and manufacturing for tasks requiring significant power and force.

Excavation

The process of digging up earth, soil, or rock, often used in archeology or construction to uncover structures or artifacts.

Contract Price

The total amount agreed upon in a contract for the sale of goods or services.