The equilibrium level of aggregate planned expenditure is found where
A) there is no saving and no dissaving.
B) net exports is zero.
C) aggregate planned expenditure equals real GDP.
D) autonomous expenditure equals equilibrium expenditure.
E) the price level is rising at a constant rate.
C
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Because incentive contracts result in more risk placed on the part of agents
a. the average level of compensation typically falls b. the average level of compensation typically rises c. compensation is unaffected d. employers want employees to insure against wild compensation swings
In 2016, national defense accounted for almost _____ of federal outlays
a. 25 percent b. 15 percent c. 40 percent d. 54 percent e. 60 percent
The government defines the poverty line as
A. the lowest income quintile (20%). B. those receiving public assistance or eligible for public assistance. C. anyone who does not have to pay federal income tax. D. a minimum dollar amount of income, depending on family size.
Factors that cause the short-run supply curve to change are factors that affect
A. demand. B. the market but not the individual firm. C. fixed costs. D. variable costs.