In Which of the Following Cases Would It Necessarily Be

question 89

Multiple Choice

In which of the following cases would it necessarily be true that national saving and private saving are equal for a closed economy?

• A)Private saving is equal to government expenditures.
• B)Public saving is equal to investment.
• C)After paying their taxes and paying for their consumption,households have nothing left.
• D)The government's tax revenue is equal to its expenditures.

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Definitions:

Profit-Maximizing Monopolist

A monopolist that sets its output and price levels to achieve the highest possible profit, given its unique position as the sole supplier in the market.

Demand Schedule

A chart or table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Elastic Segment

refers to a portion of the market where demand is highly sensitive to changes in price.

Inelastic Segment

A portion of the demand curve where consumers' demand for a product does not significantly change with a change in price.