Equilibrium expenditure is
A) the amount of aggregate expenditure at which aggregate planned expenditure exceeds real GDP.
B) the amount of aggregate expenditure at which aggregate planned expenditure equals real GDP.
C) when unplanned inventory change is positive.
D) when unplanned inventory change is zero or negative.
E) the amount of aggregate expenditure at which aggregate planned expenditure is less than real GDP.
B
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There is discrimination in the labor market on the planet of Yerk between two groups of people, the Mirks and the Morks
If the discrimination is against the Mirks, then the VMP curve for Mirks is ________ the VMP curve for Morks, and the Mirks receive ________ than the Morks. A) to the left of; the same wage rate, but fewer are employed B) to the right of; the same wage rate, but fewer are employed C) to the left of; a lower wage rate D) to the right of; a lower wage rate
The effects of a decrease in export demand
A) is a powerful argument in favor of fixed rates. B) is a powerful argument in favor of flexible rates. C) shows the difficulties in determining which exchange rate is better. D) is a powerful argument in favor of fixed rates only in the short run. E) is a powerful argument in favor of fixed rates only in the long run.
In macroeconomics,
a. we study one market at a time b. we try to understand how the entire economy behaves c. we focus on large, important products and ignore the rest d. we study one nation's economy only e. we aggregate all national economies into a world economy
World Wide Delivery Service Corporation develops a way to speed up its deliveries and reduce its costs. We would expect that this would
a. raise the demand for existing shares of the stock, causing the price to rise. b. decrease the demand for existing shares of the stock, causing the price to fall. c. raise the supply of the existing shares of stock, causing the price to rise. d. raise the supply of the existing shares of stock, causing the price to fall.