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Author Question: Saving equals ________. A. income minus consumption expenditure minus net taxes B. income minus ... (Read 226 times)

EY67

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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

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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.


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