A higher level of real Gross Domestic Product (GDP) will result if
A) total planned real expenditures exceed real Gross Domestic Product (GDP).
B) aggregate supply exceeds aggregate demand.
C) aggregate demand exceeds aggregate supply.
D) leakage exceeds injections.
A
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John has $4000 in savings to buy an engagement ring for his girlfriend even though he has no plans to propose in the near future. When his transmission needs to be replaced in his car, John charges the $2000 worth of auto repair. John's decision is an example of:
A. people recognizing that money is fungible. B. everyday expenses being easier to charge than big purchases. C. people making false distinctions about their money. D. over consumerism.
If housing prices have increased for the past 20 years, it is almost certain that prices will increase the following year
a. True b. False Indicate whether the statement is true or false
The total cost of production equals
a. average total cost + average variable cost b. average total cost + average fixed cost c. average variable cost + average fixed cost d. total fixed cost + total variable cost e. marginal cost + total variable cost
If the total population is 175 million, the labor force is 100 million, and 89 million workers are employed, then the unemployment rate is 11 percent.
Answer the following statement true (T) or false (F)