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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the formula for elasticity of savings with respect to interest rates?

To determine

Write the formula for elasticity of savings with respect to interest rates.

Explanation

Elasticity of savings with respect to interest rates: It is the degree of responsiveness to change in savings due to change in interest rate. The formula for elasticity of savings with respect to interest rates is given as:

e = ΔSΔi

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