If disposable personal income is $500 billion and personal saving is $15 billion, the personal saving rate is

Name: If disposable personal income is $500 billion and personal saving is $15 billion, the personal saving rate is
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Question

Quizplus · Accepted Answer

To calculate the personal saving rate, we divide personal saving by disposable personal income:

Personal saving rate = Personal saving / Disposable personal income

Personal saving rate = $15 billion / $500 billion

Personal saving rate = 0.03 or 3%

Therefore, the answer is B) 3%.

If Disposable Personal Income Is $500 Billion and Personal Saving