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Question : The savings rate is relatively low in developed economies because of

Option 1: low per capita income

Option 2: welfare programmes

Option 3: liquidity/borrowing constraint

Option 4: high interest rate


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: welfare programmes


Solution : The correct answer is welfare programs .

It is believed that saving is a result of consuming. Developed economies have lower rates of saving because their levels of consumption are higher than those of developing countries at the same income level. As was recently shown in the United States, welfare programs have also been linked to the dropping saving rate.

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