Author Question: In a closed economy, the formula for public saving is: Sprivate = T + G + TR a. True b. False ... (Read 49 times)

sheilaspns · **on:** Jun 30, 2018

In a closed economy, the formula for public saving is: Sprivate = T + G + TR
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following statements correctly defines the law of demand?
a. The lower the price of a commodity, the lower the quantity demanded of that commodity.
b. As the price of a commodity increases, the quantity demanded of that commodity also increases.
c. The lower the price of a commodity, the greater the quantity demanded of that commodity.
d. The lower the price of a commodity, the greater the quantity supplied of that commodity.
e. The quantity demanded of a particular good decreases with an increase in the price of a substitute good.