In a consumer-oriented economy, the decision to save in order to promote economic growth:
a. means a sacrifice of current consumption in order to enhance future consumption.
b. must be enforced by high levels of taxation.
c. cannot be expected to benefit future generations.
d. none of the above.
Question 2
Bob and Bill can make 16 toys each if they devote 8 working hours in a day. Further, Bob can repair 4 cars and Bill can repair 2 cars, if they devote 8 working hours in a day. What is the opportunity cost of repairing one car to Bill?
a. 10 toys
b. 8 toys
c. 16 toys
d. 12 toys
e. 4 toys
