If the aggregate saving in an economy is $1,750 and the GDP of the economy is $55,000,then the saving rate in the economy is ________.

Name: If the aggregate saving in an economy is $1,750 and the GDP of the economy is $55,000,then the saving rate in the economy is ________.
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Quizplus · Accepted Answer

The saving rate is calculated as the aggregate saving divided by GDP, then multiplied by 100 to convert it to a percentage. So, the saving rate = ($1,750 / $55,000) * 100 = 3.18 percent.

If the Aggregate Saving in an Economy Is $1,750 and the GDP