The quantity of real GDP demanded on the AD curve is the equilibrium real GDP when
A) equilibrium expenditure is greater than real GDP.
B) aggregate planned expenditure equals real GDP.
C) the price level equals the equilibrium price level.
D) aggregate planned expenditure is greater than real GDP.
E) aggregate planned expenditure is less than real GDP.
B
You might also like to view...
________ is concerned with the distribution of resources across society
A) Social surplus B) Equity C) Efficiency D) Utility
Businesses typically issue bonds to finance
A) their inventories. B) payments to their workers. C) spending on new plant and equipment. D) dividend payments to their stockholders.
The median voter model predicts that in a representative democracy _____
a. party platforms will converge to one preferred by the median voter b. successful politicians will emulate the median voter c. third parties will not exist d. successful politicians come from the median political party
The problem that arises in markets in which the seller knows more about the characteristics of the good being sold than the buyer knows is