A) I = Y + C + G.
B) I = Y - C - G.
C) I = Y - C + G.
D) I = Y + C - G.
In a two country world, at least one country must lose from trade
Indicate whether the statement is true or false
FALSE
Economics
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Economics
In the long run, firms in a competitive market make zero economic profit. This induces most firms to leave the industry
Indicate whether the statement is true or false
Economics
If price and quantity are not at their equilibrium positions, then
A. government must intervene. B. a move to another position will help everyone. C. it is possible to reallocate so that some people are better off without harming others. D. a move to another position will not hurt anyone.
Economics
In a closed economy,
Economics