If C = $4,000 + 0.8(Y) and the expected equilibrium level of national income is $40,000 . then the intended investment will be
a. 1,000
b. 36,000
c. –1,000
d. 44,000
e. not enough information provided
A
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If an individual has a comparative advantage in the production of a good, then this individual has the
A. greatest desire for the good. B. lowest opportunity cost in the production of the good. C. highest opportunity cost in the production of the good. D. same opportunity cost in the production of the good.
A natural monopoly is a market in which a single firm:
A. owns a key resource or input into the production of the good. B. can produce the entire market quantity at a lower cost than multiple firms. C. is protected from competition through government legislation. D. gains market share over time through aggressive tactics.
If the data show that periods of high economic growth rate accompanied by high inflation rates, then changes in aggregate demand are the primary source of economic fluctuations
a. True b. False Indicate whether the statement is true or false
With a linear production function there is a:
A. perfect complementary relationship between all inputs. B. variable-proportion relationship between all inputs. C. fixed-proportion relationship between all inputs. D. perfect substitutable relationship between all inputs.