The above table gives data for the nation of South Hampton. There are no imports into or exports from South Hampton. If real GDP is equal to $900 billion, then
A) aggregate planned expenditure is greater than real GDP.
B) aggregate planned expenditure will need to decrease to reach the equilibrium.
C) aggregate planned expenditure is less than real GDP.
D) this is the equilibrium level of real GDP.
E) aggregate planned expenditure is equal to real GDP.
C
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Answer the next question(s) based on the following supply and demand schedules in units per week for a product.PriceQuantity DemandedQuantity Supplied$601004005014034040180280302202202026016010300100If the government introduced a guaranteed price floor of $40 and agreed to purchase surplus output, then the government's total support payments to producers would be
A. $3,000 per week. B. $4,000 per week. C. $2,500 per week. D. $3,500 per week.
Which types of firms have limited liability?
A) corporations B) corporations and partnerships C) partnerships D) proprietorships
When Ford increases the production of cars in Romania, which of the following occurs?
A) GDP in the United States rises. B) GNP in the United States rises. C) GNP in Romania rises. D) Both A and C occur.
Explain why East Asian countries have done so well relative to South American countries
What will be an ideal response?