If income in a closed, private economy is $50 and consumption is $35, what is the amount of savings?Multiple choice question.$15$85$35$50
Question
Solution 1
In a closed, private economy, savings is calculated as the difference between income and consumption.
Here, the income is 35.
So, Savings = Income - Consumption = 35 = $15
So, the amount of savings is $15. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to
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