In a Closed Economy, Public Saving Is Equal to Which

question 185

Multiple Choice

In a closed economy, public saving is equal to which of the following? (Y = GDP, , , T = Taxes, and TR = Transfers)

• A)Y - C - T
• B)Y - G - T
• C)T - G - TR
• D)Y - C - T + TR
• E)C + I + G

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Definitions:

Market Value

The present rate at which a service or asset is available for purchase or sale.

Net Income

Net income is the total amount of profit a company earns after subtracting all of its expenses, taxes, and costs from its total revenue.

Unlimited Liability

A legal structure in business where owners are personally liable for all the debts and obligations of the business.

Limited Life

A term that refers to the finite operational lifespan of an entity, asset, or agreement, after which it ceases to exist or operate.