In a closed economy, the formula for public saving is: Sprivate = ...

[sheilaspns]

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.

[dominiqueenicolee]

Answer to Question 1

False

Answer to Question 2

c

[sheilaspns]

YES! Correct, THANKS for helping me on my review

[peter]

Thanks for the timely response, appreciate it