Which of the following is an underlying assumption of the aggregate expenditure model?
a. Everyone shares equally in profits when income exceeds the cost of producing goods and services.
b. The economy does better when income exceeds expenditure.
c. Equilibrium is a hypothetical state that can never be reached.
d. If there were no output in the economy, then there would be no income.
d. If there were no output in the economy, then there would be no income.
Economics
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Banks can make loans up to an amount equal to their
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In 2015, the total income of all U.S. residents was approximately $16 trillion
a. True b. False Indicate whether the statement is true or false
Economics