The aggregate expenditure in an open economy is defined as:
A) E = C + I + G.
B) E = C + I + G + X.
C) E = C × I × G × X - M.
D) E = C + I + G + X - M.
D
Economics
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An example of a money flow in the circular flow diagram is
A) a student's payment of tuition to her university. B) the government's operation of the court system. C) the government's financing of the national debt. D) a firm's production of goods to sell to a foreign country. E) a farmer's use of land to grow wheat.
Economics
The central question in economics is how to:
a. deal with the problem of scarcity. b. change government economic policy. c. change people's wants to match their needs. d. manage money and become wealthy.
Economics