In the above figure, the sum of real planned investment spending, government expenditures, and net export spending is equal to
A) $0.5 trillion. B) $1.0 trillion. C) $1.5 trillion. D) $2.0 trillion.
B
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Any firm that operates in an imperfectly competitive market faces a downward-sloping demand curve for its product
Indicate whether the statement is true or false
In response to an increase in the wage rate, the substitution effect will cause a person to
A) supply fewer hours of labor. B) supply more hours of labor. C) supply the same hours of labor. D) have a backward bend in her labor supply curve.
The maximum money that can be created by the entire banking system is equal to a multiple of its excess reserves
a. True b. False Indicate whether the statement is true or false
In the simple circular flow model:
A. businesses are sellers of resources and demanders of products. B. businesses are sellers of both resources and products. C. households are sellers of resources and demanders of products. D. households are sellers of products and demanders of resources.