In a Simple Economy (Without Government or Foreign Trade)where Output

question 29

Multiple Choice

In a simple economy (without government or foreign trade) where output can be purchased only by consumers or by firms, saving must equal

• A) investment.
• B) depreciation.
• C) consumption.
• D) income.

---

Definitions:

Staying Power

The ability of someone or something to remain popular, relevant, or strong over a long period, often in the face of challenges or competition.

Well-Being And Happiness

A state of overall health, happiness, and life satisfaction.

Personality Trait

A durable disposition to behave in a particular way in a variety of situations.

Oversimplification

The act of reducing something so much that a distorted impression of it is given, omitting complex aspects.