Induced expenditure includes
A) consumption expenditure, government expenditure on goods and services, and imports.
B) investment, consumption expenditures, and exports.
C) consumption expenditure and exports.
D) consumption expenditure and government expenditure on goods and services.
E) consumption expenditure and imports.
E
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If firms are producing an output greater than planned expenditures, these firms will cut back on production, which decreases GDP
Indicate whether the statement is true or false
Is a single-price monopoly efficient?
A) Yes, because it creates a deadweight loss. B) No, because it creates a deadweight loss. C) Yes, because consumers gain and producers lose some of their surpluses. D) Yes, because consumers lose and producers gain some of their surpluses. E) Yes, because it produces the quantity at which MR = MC.