Question

In: Economics

Which is not true about savings? (The other options are true.) It falls when consumer confidence...

Which is not true about savings? (The other options are true.)

It falls when consumer confidence increases, because that causes consumption to rise.

When there is a wide-spread increase in the desire to save, the interest rate tends to fall.

It is equal to Income - Consumption - Taxes.

It rises when income increases and consumption does not change.

It will shift up/right when people are given additional assurances that most of their retirement expenses will be paid for by their fellow citizens through government programs.

2.

Which of the following did not happen during the Pandemic of 2020?

Total income fell.

Total work hours fell.

Unemployment rose.

GDP fell.

Interest rates rose.

Expert Solution

a) "E"

It will shift up/right when people are given additional assurances that most of their retirement expenses will be paid for by their fellow citizens through government programs. It will go down because people will be spending more because they are assured of retirement in the market.

b) "E"

Interest rate did not rise but it fell down considerably.

Rahul Sunny answered 2 years ago

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