Aggregate expenditure will not equal GDP unless
a. next exports are zero.
b. transfer payments are zero.
c. inventory investment is positive.
d. inventory investment is zero.
e. inventory investment is negative.
D
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If opportunity costs are ________, the production possibilities frontier would be graphed as a negatively sloped straight line
A) increasing B) constant C) decreasing D) negative
Perfectly competitive firms are referred to as price takers because the individual firm is so small relative to the market that its output decisions will not have any effect on the market-determined price
Indicate whether the statement is true or false
A weighted output maximization could serve as a reasonable pricing guideline
Indicate whether the statement is true or false
If player R moves first in the game in Scenario 13.14, the equilibrium will
A) not be different from what it is in the simultaneous-move scenario. B) be to R's detriment because it will not be able to react to C's choice. C) be one in which R chooses 50 and C chooses 150. D) be one in which R chooses 100 and C chooses 50. E) be one in which R chooses 150 and C chooses 50.