The Most Important Determinant of Consumption and Saving Is the

question 60

Multiple Choice

The most important determinant of consumption and saving is the

• A) level of bank credit.
• B) level of income.
• C) interest rate.
• D) price level.

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Definitions:

Piaget

A Swiss psychologist known for his pioneering work in developmental psychology and his theory of cognitive development in children.

Tertiary Circular Reaction

A stage in Piaget's theory of cognitive development where infants explore their environment and learn through trial and error with repeated actions.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, typically developed during infancy.

Variability Scheme

In psychology or research, it refers to a conceptual framework for understanding how variations or differences in data are structured or categorized.