In colonial days, the wealth holdings among the colonists were

a. approximately equal to their incomes
b. unequally distributed among the colonists
c. about the same as in 1973
d. approximately zero because there was no appreciable accumulation of assets
e. equally distributed among the colonists

B

Economics

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If planned investment is equal to actual investment, then aggregate expenditure is equal to GDP

Indicate whether the statement is true or false

Economics

Refer to Figure 27-6. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, and no fiscal or monetary policy is pursued, then at point B

A) the economy is below full employment. B) firms are operating at below capacity. C) there is pressure on wages and prices to fall. D) income and profits are falling. E) the unemployment rate is very low.

Economics