Statement I: the U

question 179

Multiple Choice

Statement I: The U.S.is the world's largest creditor nation.
Statement II: We became a creditor nation in 1914.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Billion

A numerical value represented as 1,000 million (1,000,000,000) in the short scale, commonly used in financial and demographic statistics.

MPS

The marginal propensity to save, which is the proportion of an additional unit of income that is saved rather than spent.

Induced Consumption

Consumer spending that increases as disposable income rises, and decreases as disposable income falls.

Trillion

Trillion is a numerical value represented as 1,000,000,000,000 (10^12), commonly used to quantify large figures such as government budgets, economics, and astronomy.