In a closed economy, equilibrium real Gross Domestic Product (GDP) occurs where
A) the C + I + G line crosses the 45-degree line. B) saving exceeds planned investment.
C) planned expenditures exceed national income. D) all of these.
A
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Countries that have high rates of savings also have
A) high rates of investment. B) low rates of investment. C) stock market bubbles. D) low rates of growth. E) no international trade.
An increase in total spending in the economy will shift the aggregate demand curve to the left
a. True b. False Indicate whether the statement is true or false
An increase in total revenue results from which of the following?
A. Price decreases when demand is inelastic. B. Price increases when demand is elastic. C. Price decreases when demand is elastic. D. Price increases when demand is unitary elastic.
To what extent can changes in the rate of technological progress cause permanent changes in the rate of growth of output per worker? Explain
What will be an ideal response?