On the 45-degree line diagram, for points that lie below the 45-degree line
A) planned aggregate expenditure is less than GDP.
B) planned aggregate expenditure is greater than GDP.
C) planned aggregate expenditure is equal to GDP.
D) planned aggregate expenditure is less than aggregate income.
A
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Employment and (total) potential GDP increase if the
A) labor supply curve shifts rightward and the labor demand curve does not shift. B) labor demand curve shifts leftward more than the labor supply curve shifts rightward. C) labor demand curve shifts leftward and the labor supply curve does not shift. D) None of the above answers are correct.
Suppose we are modeling a "closed" economy. The only way its government can obtain more goods and services than it can claim with net tax revenues is for
A) exports to exceed imports. B) imports to exceed exports. C) investment to exceed saving. D) saving to exceed investment.
Price discrimination only occurs under monopoly
a. True b. False Indicate whether the statement is true or false
In the U.S. economy, sole proprietorships account for over half the firms and over half of total sales revenue.
Answer the following statement true (T) or false (F)