Refer to the information provided in Table 23.9 below to answer the question(s) that follow. Table 23.9
Refer to Table 23.9. Which of the following statements is false?
A. At an output level of $200 billion, there is a $60 billion unplanned inventory decrease.
B. At output levels greater than $400 billion, there is a positive unplanned inventory change.
C. If aggregate output equals $500 billion, then aggregate saving equals $0.
D. The MPC for this economy is 0.8.
Answer: B
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In choice sets, intertemporal budget constraints illustrate consumption trade-offs over time.
Answer the following statement true (T) or false (F)
What do we assume about households and firms?
A) They act irrationally. B) They do what the government tells them to do. C) They look after each other. D) They optimize.
A wage-price spiral is the result of
A. lower wages and higher prices. B. higher wages and lower prices. C. higher wages and higher prices. D. lower wages and lower prices.
Which of the following will definitely occur when there is a simultaneous increase in demand and an increase in supply?
A. an increase in equilibrium price B. an increase in equilibrium quantity C. a decrease in equilibrium price D. a decrease in equilibrium quantity