Question

The savings rate for Canada was approximately how many times that of the United States?

• A. \( 1 \frac{1}{2} \)
• B. \( 2 \)
• C. \( 2 \frac{1}{2} \)
• D. \( 3 \)
• E. \( 3 \frac{1}{2} \)

Hint:

Divide Canada’s rate by U.S. rate.

Answer 1

The Correct Option is B

Step 1: Let Canada’s savings rate be \( C \), U.S. be \( U \).
Step 2: Ratio = \( \frac{C}{U} \).
Step 3: Assume Canada \(\approx 18%\) (from Q22), U.S. \(\approx 9%\) (typical value).
Step 4: \( \frac{18}{9} = 2 \).
Step 5: Matches (B) \( 2 \).