Which aggregate expenditure schedule(s) AE in the diagram for a private closed economy represent(s) the highest level of investment, assuming investment is the same at each level of income and the level of consumption at zero income is the same for each schedule?
A. AE 4 only.
B. AE 2 and AE 3 .
C. AE 1 and AE 4 .
D. AE 3 and AE 4
B. AE 2 and AE 3 .
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The above table presents data for the nation of Economica
a. What is the aggregate planned expenditure and unplanned inventory change at each level of real GDP? b. At what level of real GDP is equilibrium expenditure achieved?
________ is defined as national income + transfers - taxes
A) Disposable income B) Personal income C) GDP D) Gross private domestic investment
Congress authorized a second Bank of the United States partly in response to:
A) difficulty in funding the American Revolution B) difficulty in funding the War of 1812 C) difficulty in funding the Industrial Revolution D) difficulty in funding the Civil War
The term “laissez-faire” was given to a system of free markets by
A. twentieth-century American economists. B. a seventeenth-century Scottish economist. C. eighteenth-century French economists. D. nineteenth-century Italian economists.