Which of the following best describes aggregate expenditure?
a. C + I + G + (X ? M)
b. C + S + G + (X ? M)
c. C + I + G + (X + M)
d. C + I + T + (X ? M)
e. C + I + T + (X + M)
a
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If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:
A. substitutes. B. complements. C. inferior. D. elastically demanded.
What is marginal cost? Which curve is also referred to as the marginal cost curve?
What will be an ideal response?
If the U.S. demand for German goods increases, then
A. the U.S. current account deficit with Germany will improve. B. Germany will experience currency devaluation. C. the euro will appreciate in value against the U.S. dollar. D. the euro will depreciate in value against the U.S. dollar.
In the short run, a change in the equilibrium price will
A) always lead to inflation. B) cause a shift in the demand curve. C) cause a shift in the supply curve. D) cause a change in the quantity demanded or supplied.