The four components of the aggregate expenditures model are:
a. consumption, investment, inventories, and government purchases.
b. consumption, planned investment, unplanned changes in inventory, and exports.
c. consumption, investment, government purchases, and net exports.
d. consumption, investment, exports, and imports.
c
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According to the managerial efficiency theory of profit, above-normal profits can arise because of high-quality managerial skills
a. true b. false
As an individual increases his consumption of onion rings, it is likely that: a. his marginal utility and total utility both increase
b. his marginal utility and total utility both decrease. c. his marginal utility increases and his total utility decreases. d. his marginal utility decreases and his total utility increases.
The short-run Phillips curve is ________, while the long-run Phillips curve is vertical at the ________.
A. upward sloping; minimum wage B. downward sloping; real wage C. upward sloping; average nominal wage rate D. downward sloping; natural rate of unemployment E. horizontal; origin
A firm's short-run supply curve is its marginal cost curve above the shut-down point.
Answer the following statement true (T) or false (F)