Planned consumption and planned investment are
a. the only important parts of aggregate expenditure in the U.S. economy.
b. less important than government spending in the U.S. economy.
c. two important components of aggregate expenditure.
d. almost always equal.
c. two important components of aggregate expenditure.
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In the above figure, the slope across the arc between points a and b equals
A) 5. B) 4. C) 2. D) 1.
If the price of Pepsi-Cola increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the Pepsi-Cola Company could increase its total revenue by
a. lowering price b. decreasing quantity supplied c. leaving price the same d. raising price e. decreasing supply
Which statement is true?
A. The economic problem is limited to poverty. B. Scarcity is no longer an economic problem in the United States. C. If we all had more money there would be less scarcity. D. None of these statements are true.
A popular resort restaurant will maximize profits if it chooses to stay open during the less-crowded "off season" when its total revenues exceed its variable costs
a. True b. False Indicate whether the statement is true or false