When the economy is operating at the equilibrium level of GDP, we know that
A) total planned real consumption expenditures equal real GDP.
B) planned real investment spending equals real net exports of zero.
C) total planned real expenditures equal real GDP.
D) real net exports equal inventory changes.
C
Economics
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Recessions are largely the result of
A) high wages. B) the wishful thinking of zero economic growth advocates. C) widespread and systemic errors from manipulated market signals. D) none of the above.
Economics
If the marginal cost were $12, how many units of output would this firm produce?
A. 1
B. 2
C. 3
D. 4
Economics