Which of the Following Statements Is Correct

question 70

Multiple Choice

Which of the following statements is correct?

• A)The total income in the economy that remains after paying for consumption and government purchases is called private saving.
• B)The sum of private saving and national saving is called public saving.
• C)For a closed economy,the sum of private saving and public saving must equal investment.
• D)For a closed economy,the sum of consumption,national saving,and taxes must equal GDP.

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Definitions:

Psychological Preferences

The individual tendencies towards certain ways of thinking, feeling, and behaving.

Preferences

Individuals' choices or inclinations regarding people, objects, or outcomes, often influenced by their values, beliefs, and past experiences.

Personality Traits

Enduring characteristics that describe an individual's behavior, thought patterns, and emotional responses.

Inherited

A trait, characteristic, or possession passed down from previous generations through biological or legal means.