In equilibrium, the real value of household income must equal
A) the real value of output produced by firms.
B) the real value of all expenditures.
C) the sum of all goods produced in a year.
D) net GDP.
A
You might also like to view...
Jerry spends his entire income on two goods, Bran and Tea. Every month he spends half of his income on each of these goods. Jerry's income elasticity of demand for Bran is -.75. What is the income elasticity of demand for Tea?
A) 2.75 B) 0.36 C) -2.75 D) Unknown with the information provided
The marginal product of labor is the
a. additional output produced when one more worker is hired b. amount of output associated with labor inputs c. maximum amount of output produced by a given set of inputs d. maximum profit "produced" by selling a firm's output e. additional cost associated with an additional unit of labor
An increasing trade deficit for Micromania will, ceteris paribus, lead to a devaluation of Micros (Micromania's currency) in world currency markets
Indicate whether the statement is true or false
What is the estimated value of the slope parameter when the regression equation, y = 
0+
data-mathml="%3Cmath%20style%3D%22font%2Dfamily%3A%27Times%20New%20Roman%20Greek%27%22%20xmlns%3D%22http%3A%2F%2Fwww%2Ew3%2Eorg%2F1998%2FMath%2FMathML%22%3E%3Cmstyle%20mathsize%3D%2215px%22%3E%3Cmi%3E%26%23946%3B%3C%2Fmi%3E%3C%2Fmstyle%3E%3C%2Fmath%3E" src="@@PLUGINFILE@@/ppg__cognero__Ch_02_The_Simple_Regression_Model__media__cdcef7a2-dfa0-49c8-b489-15e1914aba38.PNG" style="vertical-align:middle;" />1x1 + u passes through the origin?
A. 
B. 
C. 
D. 