If there is an excess supply of sport utility vehicles, then:
A. quantity supplied is greater than quantity demanded.
B. demand is greater than supply.
C. quantity demanded is greater than quantity supplied.
D. supply is greater than demand.
Answer: A
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In 2007, investment in France increased by 7 billion euros, consumption increased by 4 billion euros and government spending increased by 1.5 billion euros. Assume the price level was constant and the economy was at full employment. As a result, suppose that equilibrium expenditure increased by 21 billion euros. In this example, __________ is the induced expenditure and __________ is autonomous expenditure.
a) consumption; government spending b) investment; consumption c) investment; government spending d) government spending; equilibrium expenditure
Fixed costs do not vary as output changes.
Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)