For the goods market to be in equilibrium in a closed economy, which of the following must be true?

A) Y = S + I + G
B) S + I = C + G
C) S + G = Y + C
D) S = I


D

Economics

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According to economist Robert Gordon, major innovations in the United States have been concentrated in ________ waves of growth

A) two B) three C) four D) five

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In the figure above, the deadweight loss is

A) $4,000 an hour. B) $2,000 an hour. C) $1,000 an hour. D) $5,000 an hour. E) zero.

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Commodities that last less than three years and may be consumed very quickly are called:

A) durable goods B) nondurable goods C) services D) none of the above

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A nation can determine how close it is to the classical range by considering its:

a. Export position. b. Net export position. c. Capacity utilization index. d. Exchange rate. e. All of the above.

Economics