The level of aggregate output and income where there is a balance between spending and production decisions and where the economy moves toward is called:
A) disequilibrium level of output and income.
B) equilibrium level of output and income.
C) disequilibrium level of employment.
D) none of the above.
B
Economics
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Elasticity is:
A) the sum of the percentage change in two variables. B) the difference of the percentage change in two variables. C) the product of the percentage change in two variables. D) the ratio of the percentage change in two variables.
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What is marginal social cost?
What will be an ideal response?
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