The equation for aggregate expenditure is as follows:
a. C + I + G + (X - M)
b. C + I + P + (X – M)
c. I + G + (X – M)
d. C + G + (X – M)
a
Economics
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Describe and explain the policy irrelevance proposition
What will be an ideal response?
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Which of the following statements is correct?
a. For all firms, marginal revenue equals the price of the good. b. Only for competitive firms does average revenue equal the price of the good. c. Marginal revenue can be calculated as total revenue divided by the quantity sold. d. Only for competitive firms does average revenue equal marginal revenue.
Economics