In an open economy, injections and leakages are related as:
A) I + G = S + T.
B) I + G + X = S + T + M.
C) X + G = T + M.
D) none of the above
B
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In the classical model, the supply-determined nature of output is illustrated by a(n)
a. horizontal aggregate supply curve. b. vertical aggregate supply curve. c. upward sloping aggregate supply curve. d. downward sloping aggregate supply curve.
The Economic Act of 1946 allowed the federal government to use discretionary fiscal policy to pursue economic prosperity
Indicate whether the statement is true or false
When actual investment exceeds intended investment, national income will grow
Indicate whether the statement is true or false
Equilibrium price in international trade is the common price between exporting and importing countries.
Answer the following statement true (T) or false (F)