How do personal savings contribute to the economy?
(1 point)
Responses
They increase the amount of money banks can invest in stocks and bonds.
They increase the amount of money banks can invest in stocks and bonds.
They increase the amount of money banks can loan to individuals and businesses.
They increase the amount of money banks can loan to individuals and businesses.
They allow consumers to invest in different areas of the economy.
They allow consumers to invest in different areas of the economy.
They allow consumers to get advice from banks on how to keep track of their money.
1 answer
The most relevant response is:
They increase the amount of money banks can loan to individuals and businesses.
Personal savings contribute to the economy by providing banks with more funds to lend, which can stimulate economic growth through increased consumer spending and business investment.
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