« previous next »

Author Question: Saving equals ________. A. income minus consumption expenditure minus net taxes B. income minus ... (Read 227 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Saving equals ________.
 
  A. income minus consumption expenditure minus net taxes
  B. income minus net taxes
  C. total income minus total expenditure
  D. net taxes minus government expenditure

Question 2

Refer to Scenario 3 . Why are elasticities of demand rather than slopes used to measure and compare responsiveness?
 
  What will be an ideal response?


gabrielle_lawrence

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 29, 2018
Answer to Question 1

A Saving is what is left from income after consumption expendi-ture and net taxes are paid.

Answer to Question 2

Elasticities are useful because they are unit-free, and one can therefore compare elasticities between different types of goods. In contrast, slopes are not unitless. Hence, comparison between different products is much easier with elasticity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
U.S. Energy Consumption U.S. Energy Consumption
Per capita consumption of power is high in the developed world and highest in the United States Per capita consumption of power is high in the developed world and highest in the United States
Regional Variation in Income and Access to the Sea Regional Variation in Income and Access to the Sea
Cultural Attitudes Toward Insect Consumption Cultural Attitudes Toward Insect Consumption
Lone-parent household income and the degree of vulnerability Lone-parent household income and the degree of vulnerability
Video: Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library