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Classical Economists Believed That If Saving Were Greater Than Investment,the

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Multiple Choice

Classical economists believed that if saving were greater than investment,the interest rate would _____,causing saving to _____ and investment to _____ until the two were equal.


Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.

Surplus

The amount by which the quantity supplied of a product exceeds the quantity demanded at a specific price.

Quantity Supplied

The total amount of a particular good or service that producers are willing and able to sell at a given price over a specified period.

Quantity Demanded

The amount of a good or service that consumers are willing and able to buy at a specific price.

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