Answer:
private saving does not change and public saving increases
Explanation:
given data
household saving decreases = $4 million
business saving increases = $4 million
government budget deficit decreases = $4 million
solution
as we know Budget deficit = G - T
and
public saving = T- G
so here we can say deficit decreased means the public saving increased
and
here Private saving is = sum of saving of households + sum of saving of businesses ....................1
Private saving = -4 + 4
Private saving = 0
so that here private saving does not change
private saving does not change and public saving increases
Answer:
small; wage rate
Explanation:
The purely competitive market is a wage taker as there are many number of firms who wants to purchase the labor services in that market also there are many number of workers who have similar skills and wants to sell their labor services
So as per the given situation, the each and every kind of firm wants to employs a small fractions of total supply available so that no firm could influence the wage rtae
Therefore the last option is correct
Entrepreneur is a person who is willing to bear risks to gain profits.
1) risk bearing
2) innovative
3) personality
