Refer to the diagram that applies to a private closed economy. If aggregate expenditures are C + I g2 , the amount of saving at income level J is:
A. LK.
B. KN.
C. KD.
D. JD.
B. KN.
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A downward shift of the planned expenditure curve resulting from an increase in the price level corresponds to
A) a movement up along the aggregate demand curve. B) a movement down along the aggregate demand curve. C) an increase in aggregate demand. D) a decrease in aggregate demand.
If the price of a good rises, then moving along a demand curve the percentage change in the quantity demanded will be
A) positive. B) negative. C) zero. D) either positive, negative, or zero depending on how the demand curve shifted. E) undefined.
What are the effects of a minimum wage set below the equilibrium wage?
What will be an ideal response?
If the velocity of circulation is 10 and the money supply is $250, the value of transactions will be $25.
Answer the following statement true (T) or false (F)