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Author Question: Consider a closed economy without the government. If the savings rate in the economy is 20 and the ... (Read 47 times)

bobbysung

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on: Jun 30, 2018
Consider a closed economy without the government. If the savings rate in the economy is 20 and the aggregate savings is 10,000, the aggregate consumption in the economy is:
 
  A) 37,000. B) 45,000. C) 10,000. D) 50,000.

Question 2

A monetary system is preferable over the barter system because of the problems associated with
 
  A) the law of diminishing marginal utility. B) the law of increasing relative costs.
  C) the double coincidence of wants. D) cash leakages.


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dreamfighter72

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


bobbysung

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Reply #2 on: Jun 30, 2018
Correct answers!


dreamfighter72

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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