Refer to the diagram for a private closed economy. At the $300 level of GDP:
A. aggregate expenditures and GDP are equal.
B. consumption is $200 and planned investment is $50.
C. saving exceeds planned investment.
D. consumption plus saving is $400.
A. aggregate expenditures and GDP are equal.
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When the aggregate demand curve shifts ________ than the long-run aggregate supply shifts rightward, the result will be inflation
A) rightward at a faster rate B) leftward at a slower rate C) leftward at the same rate D) rightward at a slower rate
When Starbucks accepts your $10 bill for two Grande Lattes and one Tall Caramel Macchiato, the $10 bill serves as a
A) medium of exchange. B) store of value. C) standard of value. D) commodity money.
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. requiring employees to punch time clocks c. spot checks of the quality of employee's work d. providing better coffee machines in the lunch room
The final market value of a good is _____
a. the sum of the value added at all stages of production b. the value added at one stage of production c. greater than the sum of all the values added at all stages of production d. less than the sum of all the values added at all stages of production e. the value added at the final stage of production