Planned consumption and planned investment are
a. the only important parts of aggregate expenditure in the U.S. economy.
b. less important than government spending in the U.S. economy.
c. two important components of aggregate expenditure.
d. almost always equal.
c. two important components of aggregate expenditure.
Economics
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If production is given by Q = KL, doubling both inputs
a. more than doubles output. b. exactly doubles output. c. increases output but does not double it. d. leaves output unchanged.
Economics
The payment for a factor of production that is completely inelastic in supply is
A) opportunity cost. B) economic rent. C) discounting. D) limited liability.
Economics