On the 45-degree line diagram, the 45-degree line shows points where
A) real aggregate expenditure equals real GDP.
B) real aggregate expenditure equals C + I.
C) real income equals real GDP.
D) real aggregate output equals the quantity produced.
A
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TQM means
A) total quiet management. B) total quality maneuvers. C) total quality management. D) totally quiet motion. E) totally quality means.
In 1980, in order to stimulate agricultural production, Fidel Castro allowed Cuban farmers to sell their goods directly to consumers and keep whatever profit they made. Some farmers were earning $50,000 per year, compared with the average worker income of $2,400 . The workers resented this. Castro denounced the farmers as "capitalist gangsters" and closed the free markets. Cuban cash income
declined five percent and fresh vegetables were in short supply. This illustrates the economic concept of the a. law of comparative advantage. b. equality-efficiency trade-off. c. cost disease of the service sector. d. unemployment-inflation trade-off. e. All of the above are correct.