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Author Question: Briefly explain how the miserliness of Ebenezer Scrooge might actually be beneficial for economic ... (Read 93 times)

burchfield96

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on: Jun 29, 2018
Briefly explain how the miserliness of Ebenezer Scrooge might actually be beneficial for economic growth.
 
  What will be an ideal response?

Question 2

Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A can make a maximum loan of
 
  A) 2,000. B) 8,000. C) 10,000. D) 50,000.


karmakat49

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Ebenezer Scrooge is known for his unwillingness to spend money. Refusing to use his money for consumption spending, Scrooge saves his money instead. This saving then becomes available for firms to borrow to finance the building of new factories or research and development. Since growth in the capital stock and technological advance are keys to economic growth, the stingy Scrooge may actually promote economic growth.

Answer to Question 2

B


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