Author Question: In a closed economy, private saving, , is equal to A) I - (G - T). B) I + (G - T). C) I + (G + ... (Read 55 times)

jho37

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In a closed economy, private saving, , is equal to
 
  A) I - (G - T).
  B) I + (G - T).
  C) I + (G + T).
  D) I - (G + T).
  E) I + (G - T) + C.

Question 2

In the specific factors model, which of the following will increase the quantity of labor used in cloth production?
 
  A) an increase in the price of cloth relative to that of food
  B) an increase in the price of food relative to that of cloth
  C) a decrease in the price of labor
  D) an equal percentage decrease in the price of food and cloth
  E) an equal percentage increase in the price of food and cloth



taylorsonier

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Answer to Question 1

B

Answer to Question 2

A



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