At any given time,
a. planned investment equals planned saving.
b. planned investment equals actual investment.
c. planned saving equals actual saving.
d. actual investment equals actual saving.
d. actual investment equals actual saving.
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In the figure above, the allocatively efficient output of computers is
A) 2 million per year. B) 3 million per year. C) 4 million per year. D) the largest amount possible.
The Dodd-Frank bill created an agency to monitor markets for asset price bubbles and the buildup of systemic risk. This agency is called the
A) Resolution Trust Authority. B) Board of Governors. C) Financial Stability Oversight Council. D) Macroprudential Supervisory Agency.
A production possibilities frontier can shift outward for all of the following reasons except one. Which is the exception?
a. a decrease in the unemployment rate b. an improvement in labor skills c. an improvement in technology d. a larger work force e. a larger capital stock
According to economic theory, profits are maximized where
A) total revenue equals total cost. B) marginal revenue equals marginal cost. C) price and average cost are equal. D) where marginal product and average cost are equal.