Asked by
Tamanna Begum
on Oct 12, 2024
Verified
Our gross savings as a percentage of GDP has declined from over 20% in 1960 to ________ percent in 2009.
A) about 14
B) just under 12
C) a little over 10
D) about 6
Gross Savings
Gross Savings refers to the total amount of savings retained by an economy after all expenses have been met but not including depreciation.
GDP
Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
- Assess variables influencing the rates of savings, investments, and the growth of the economy.
Verified Answer
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Learning Objectives
- Assess variables influencing the rates of savings, investments, and the growth of the economy.