The two major curves or lines in the TE-TP diagram are:
A) the total expenditure curve and the 45-degree line.
B) the supply and demand curves.
C) the total expenditures and national income curves.
D) the total production and national income curves.
A
Economics
You might also like to view...
If you were a government official that wanted to raise the equilibrium price of milk, which of the following actions would you take?
a. Take milk from government storage and sell it. b. Encourage farmers to produce more milk. c. Subsidize purchases of dairy equipment. d. Encourage farmers to produce less milk.
Economics
If money wages increase, the most likely result is a(n)
A. increase in aggregate supply. B. decrease in aggregate supply. C. steeper aggregate supply curve. D. flatter aggregate supply curve.
Economics