When planned investment exceeds saving in a private closed economy:
A. Aggregate expenditures will equal GDP
B. Aggregate expenditures will exceed GDP
C. Aggregate expenditures will be less than GDP
D. Consumption plus investment will equal GDP
B. Aggregate expenditures will exceed GDP
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Which of the following statements is true?
A) The production possibilities curve of a nation is fixed in the long run. B) The production possibilities curve can only shift to the right. C) The production possibilities curve of an economy is concave to the origin. D) The slope of the production possibilities curve represents the ratio of the marginal cost of producing goods.
Corporate takeovers of a firm occur
A. when one firm’s market share for their product goes to zero. B. when a group acquires sufficient stock in a firm to take control of the firm’s operations. C. when a new chief executive officer replaces the previous chief executive. D. when a corporation issues new shares of stock.
When price elasticity is less than -1, consumer spending increases as price falls.
Answer the following statement true (T) or false (F)
Figure 11-6
The profit-maximizing monopolist in Figure 11-6 will sell its output at
a.
P1.
b.
P2.
c.
P3.
d.
P4.