If planned investment increases, equilibrium will be restored only when saving has increased by exactly the amount of the initial increase in planned investment, assuming there is no government or foreign sector.
Answer the following statement true (T) or false (F)
True
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Which of the following is not necessarily true in the long for a competitive industry?
a. Firms earn zero profits. b. Firms set MC = MR. c. A firm will not produce if the market price is less than their break-even price. d. The long-run supply curve is more elastic than the short-run supply curve.
The Fair Labor Standards Act originally set the minimum wage at
A) $3.00 in 1960. B) $0.25 in 1938. C) $1.25 in 1938. D) $0.25 in 1983. E) $1.25 in 1983.
Define the following terms and explain their importance to the study of economics. a. maximin criterion b. Nash equilibrium c. Dominant Strategy d. Zero-sum game e. Credible threat
What will be an ideal response?
A time series data is also called a longitudinal data set.
Answer the following statement true (T) or false (F)