Comparing aggregate expenditure and aggregate incomes shows that
A) aggregate expenditure is usually greater than aggregate income.
B) aggregate income is usually greater than aggregate expenditure.
C) they are equal.
D) aggregate income cannot equal aggregate expenditure if we have any savings.
C
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If a firm’s fixed costs increase, then profits drop but its output should not change.
Answer the following statement true (T) or false (F)
If the real exchange rate for the dollar is above the equilibrium level, the quantity of dollars supplied in the market for foreign-currency exchange is
a. greater than the quantity demanded and the dollar will appreciate. b. greater than the quantity demanded and the dollar will depreciate. c. less than the quantity demanded and the dollar will appreciate. d. less than the quantity demanded and the dollar will depreciate.
Inflation and unemployment
A. are a focus of microeconomics. B. are the focus of normative economics. C. are a focus of positive economics. D. are a focus of macroeconomics.
Suppose an economy’s real GDP is $50,000 in year 1 and $55,000 in year 2. What is the growth rate of its GDP? Assume that population was 100 in year 1 and 105 in year 2. What is the growth rate in GDP per capita?
What will be an ideal response?