When an economy is in equilibrium,
A) planned expenditures exceed production and income.
B) there is no savings nor investment.
C) government tax revenues equal planned government expenditures.
D) production and income equal planned expenditures.
D
You might also like to view...
Which of the following helps determine the growth rate of potential GDP?
I. capital accumulation II. technology advances III. growth in the quantity of money A) I B) I and II C) I and III D) I, II and III
If you expect a general price increase of 5% this year and the price of the hamburgers you sell increases by 10%, you would conclude that the relative price of your good has
A) declined, and you would increase your output. B) declined, and you would decrease your output. C) increased, and you would increase your output. D) increased, and you would decrease your output.
Cross-price elasticity refers to:
A. how much the quantity demanded of one good changes in response to a change in the price of a different good. B. how much the quantity demanded of one good changes in response to a change in its price. C. the magnitude of the shift in demand for a good in response to a change in its price. D. how much the quantity demanded of a good changes in response to a change in consumers' incomes.
Which of the following will lead to a leftward shift in the U.S. SRAS curve?
A) a decrease in foreign input prices B) an appreciation of the dollar C) a depreciation of the dollar D) a and b E) none of the above