If a Country Were to Increase Its Saving Rate,then in the Long

question 37

Multiple Choice

If a country were to increase its saving rate,then in the long run it would also increase its

• A)level of income.
• B)growth rate of income.
• C)growth rate of productivity.
• D)All of the above are correct.

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Definitions:

Marginal Cost

The additional expenditure required to produce one more unit of a product or service.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in the quantity of goods or services sold.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy.

MR (Marginal Revenue)

The increase in revenue that results from selling one additional unit of a product or service.