In the Keynesian Model, the Principal Determinant of Saving Is

question 71

Multiple Choice

In the Keynesian model, the principal determinant of saving is

• A) interest rates.
• B) income.
• C) tax rates.
• D) investment.

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Definitions:

Skilled Labor

Workers who have specialized training or skills, often acquired through education or extensive job experience.

Heckscher-Ohlin Model

An economic theory that suggests that countries export what they can most efficiently and abundantly produce, based on their factors of production.

Labor-Intensive

A process or industry that requires a large amount of labor to produce its goods or services, typically compared to the amount of capital required.

Labor-Abundant

Referring to countries or regions that have a high supply of labor relative to capital, often resulting in lower labor costs.