The Major Factors Which Influence the Level of Savings Are

question 21

Multiple Choice

The major factors which influence the level of savings are the level of:

• A) income and the life stage of the individual saver
• B) income, economic expectations, cyclical influence, and the life stage of the individual saver
• C) income, interest rates, and the life stage cycle of the individual saver
• D) income and interest rates

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Definitions:

Resources

Assets, materials, and inputs needed for the production of goods and services, including time, labor, capital, and natural resources.

Excess Demand

A market condition where the quantity demanded of a good exceeds the quantity supplied, leading to shortages.

Good

A tangible item or product that fulfills a need or desire and is available for purchase.

Price Ceiling

A price ceiling is a government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers from high prices.