Saving

question 258

Multiple Choice

Saving

• A)slows growth because it decreases consumption.
• B)finances investment which brings capital accumulation.
• C)has no impact on economic growth.
• D)is very low in most East Asian nations.
• E)is important for a country to gain the benefits of international trade.

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Definitions:

Transaction

Any agreement or exchange between two parties where goods, services, or money are passed from one to the other.

Pay Phone

A public telephone that operates with the insertion of coins or by credit card payment.

Economic Theory

A collection of theories and frameworks that describe the workings of economies and the interactions between economic participants.

Communications

The act or process of exchanging information and ideas through various mediums and platforms.