Domestic Saving Must Equal Investment in

question 45

Multiple Choice

Domestic saving must equal investment in

• A)both closed and open economies.
• B)closed, but not open economies.
• C)open, but not closed economies.
• D)neither closed nor open economies.

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Definitions:

Factors Of Production

The inputs used in the creation of goods or services in order to make an economic profit, including land, labor, capital, and entrepreneurship.

Input

Resources used in the production of goods and services.

Output

The total amount of goods or services produced by an individual or entity in a given period.

Function

In mathematics, a relation or expression involving one or more variables, where each input value yields one and only one output value.