Which of the following are equal to one another?
I. aggregate production
II. aggregate expenditure
III. aggregate income
A) I equals II, but not III.
B) I equals III, but not II.
C) II equals III, but not I.
D) I equals II equals III.
D
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A movement downward toward the right along a typical production possibilities curve represents
a. decreasing production of both goods under consideration. b. increasing production of both goods under consideration. c. increasing production of one good and decreasing production of the other. d. increasing production of one good with no change in production of the other.
The most important item in the public assistance (welfare) package is
a. Aid to Families with Dependent Children b. Medicaid c. Medicare d. food stamps e. housing subsidies
Investment, as defined in aggregate expenditure calculations, consists of purchasing all of the following except?
a. new factories b. new housing c. new stocks d. new equipment
Shortage
What will be an ideal response?