Which of the following statements is correct? A.the total income in the economy that remains after paying for consumption and government purchases is called private saving. B.the sum of private saving and national saving is called public saving. C.for a closed economy, the sum of private saving and public saving must equal investment. D.for a closed economy, the sum of consumption, national saving, and taxes must equal GDP.
Which of the following statements is correct? A.the total income in the economy that remains after paying for consumption and government purchases is called private saving. B.the sum of private saving and national saving is called public saving. C.for a closed economy, the sum of private saving and public saving must equal investment. D.for a closed economy, the sum of consumption, national saving, and taxes must equal GDP.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following statements is correct?
A.the total income in the economy that remains after paying for consumption and government purchases is called private saving.
B.the sum of private saving and national saving is called public saving .
C.for a closed economy, the sum of private saving and public saving must equal investment.
D.for a closed economy, the sum of consumption, national saving, and taxes must equal GDP .
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