What are the two components of federal spending?
What will be an ideal response?
government purchases and transfer payments.
Economics
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The figure above shows the production possibilities frontiers for the United Kingdom and France. If the United Kingdom and France specialize and engage in trade, the United Kingdom will export ________ and France will export ________
A) fish; wheat B) wheat; wheat C) fish; fish D) nothing; nothing E) wheat; fish
Economics
How does an increase in autonomous expenditure change real GDP in the short run? Does real GDP change by the same amount as the change in aggregate demand? Why or why not?
What will be an ideal response?
Economics