The main components of spending, which can cause changes in aggregate demand, are:
a. consumption, investment, government purchases, and net exports
b. consumption, investment, government purchases, and imports.
c. investment, savings, replacement of depreciated equipment, and spending.
d. consumption, savings, government purchases, and exports.
a
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A firm’s optimal input proportions may change if
A. input prices change. B. the relative marginal productivities of the inputs change. C. the firm’s optimal output level changes. D. All of the responses are correct.
The Bretton Woods system relied on
A) a flexible exchange-rate system. B) a floating exchange-rate system. C) a fixed exchange-rate system. D) an exchange-rate union.
There is general agreement among economists that a proposed fiscal policy should be evaluated for its:
A. potential positive and negative effects on long-run productivity growth. B. contribution to the purpose of "fine-tuning" the economy. C. contribution to the growth of exports and imports in the economy. D. potential positive and negative effects on short-run business indebtedness.
We call a market where there is only one producer of a good or service a monopoly.
Answer the following statement true (T) or false (F)