If the Aggregate Saving in an Economy Is $1,750 and the GDP

question 99

Multiple Choice

If the aggregate saving in an economy is $1,750 and the GDP of the economy is $55,000,then the saving rate in the economy is ________.

• A) 1.8 percent
• B) 3.18 percent
• C) 8.96 percent
• D) 10 percent

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Definitions:

Inductive Reasoning

A rational procedure where several assumed or generally true statements are merged together to derive a particular outcome.

Word Fluency

The ability to rapidly retrieve words from memory, often tested by asking individuals to produce as many words as possible from a category in a limited time.

Fluid Intelligence

The aspect of intelligence involved in the ability to think abstractly, reason quickly, and solve problems in novel situations, independent of acquired knowledge.

Quick Reasoning

The ability to think and form judgments rapidly and efficiently.