At the equilibrium level of income it must be true that total
a. income equals total spending.
b. product equals total output.
c. output equals total inventory.
d. income equals total saving.
a
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Which of the following is not included in personal consumption?
A. Purchases of new construction by consumers B. Payments for cable and Internet services to homes C. New furniture and appliances bought by homeowners D. Food purchased at supermarkets
Refer to the above table. Assuming constant opportunity costs, the opportunity cost of producing a computer in the United States is ________ while the opportunity cost of producing a computer in Mexico is ________
A) 0.8 bicycle; 2 computers B) 2.5 computers; 0.25 bicycle C) 0.5 bicycle; 0.2 bicycle D) 2 bicycles; 5 bicycles
Refer to the above graph. Which factor will shift AD1 to AD2?
A. The foreign purchase effect. B. An increase in investment spending. C. The real-balances effect. D. An increase in productivity.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward