The Percentage of Income That Americans Save Each Year ________

question 39

Multiple Choice

The percentage of income that Americans save each year ________.

• A)is much higher than the percentage the Chinese citizens save
• B)is higher than the saving rate of most industrialized countries
• C)is lower than the saving rate of most industrialized countries
• D)increased by a factor of five every year since the 1970s
• E)none of the above

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Definitions:

Equilibrium Price

The price point in the market where the amount of products offered meets the amount of products wanted.

Demand

The level of demand for a good or service that purchasers have the desire and financial ability to acquire at varying prices over a designated period.

Supply Curve

A graph that shows the relationship between the price of a good and the quantity of the good that producers are willing to sell at various prices.

Demand Curve

A visual diagram illustrating the connection between a product's price and the amount consumers are willing to purchase.