One way to derive aggregate demand is by looking at its four component parts, which are
A) consumer expenditures, planned investment spending, government spending, and net exports.
B) consumer expenditures, actual investment spending, government spending, and net exports.
C) consumer expenditures, planned investment spending, government spending, and gross exports.
D) consumer expenditures, planned investment spending, government spending, and taxes.
A
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In perfect competition, one result of the model was that there were no economic profits in the long run. In a monopoly, the firm typically earns a positive economic profit. Why is there this difference?
What will be an ideal response?
When a price ceiling that has an impact is imposed, it has the effect of
A. decreasing quantity supplied and increasing quantity demanded. B. decreasing both quantity supplied and quantity demanded. C. increasing quantity supplied and decreasing quantity demanded. D. increasing both quantity supplied and quantity demanded.
Refer to the diagram. The total utility yielded by 4 units of X is:
A. 4.
B. 15.
C. 17.
D. 18.
Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0.3 percent. B) 1.1 percent. C) 1.4 percent. D) 1.7 percent.