The aggregate demand for home input can be written as a function of: I. Real exchange rate. II. Government spending. III. Disposable income
A) I only
B) III only
C) I and III
D) II and III
E) I, II, and III
E
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The subject matter of public economics falls into the two general categories of _____ and _____
a. public interest; private interest b. coercion action; individual liberty c. revenue generation; government spending d. civilian activities; military duties
Adopting a common currency implies all of the following, EXCEPT that:
A) each region will lose its monetary autonomy. B) a common interest rate will be set. C) each region will retain its monetary authority. D) a common monetary policy will be set by the central bank.
An economy operating inefficiently is graphed as a point ______ the production possibilities curve.
a. above
b. inside
c. outside
d. on
What are the two tools of fiscal policy that governments can use to affect the level of aggregate demand?
A. government spending and taxation B. government spending and technology improvements C. taxation and controlling imports D. taxation and controlling exports