Points where the aggregate expenditure (AE) curve lie above the 45° line are points where aggregate planned expenditure is
A) greater than real GDP.
B) equal to real GDP.
C) less than real GDP.
D) the inverse of real GDP.
E) not related to real GDP.
A
Economics
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Why are the losers from free international trade not fully compensated for their losses?
A) The amount of compensation needed would bankrupt the government. B) The losers are foreigners. C) The people who claim to lose are also the same ones who benefit. D) No one actually loses from international trade. E) Identifying all losers and the size of their losses is extremely difficult.
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How does a firm in a competitive market decide what level of output to produce in order to maximize its profit?
What will be an ideal response?
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