The level of aggregate expenditures in a mixed open economy is comprised of:
A. C a + I g + X n
B. C a + I g + G + T + X n .
C. C a + I g + X n + G.
D. C a + G.
C. C a + I g + X n + G.
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Which of the following is NOT a true statement?
A) India can easily relocate workers from the country to the city. B) India would raise income faster if it moved workers from agriculture to manufacturing. C) High agricultural tariffs in India protect rural workers. D) India has low tariffs in manufacturing.
In the short run in a perfectly competitive industry,
a. each firm's supply curve is horizontal, but the market supply curve is upward sloping b. the marginal cost curve equals the marginal revenue curve c. the market supply curve is upward sloping because each firm's supply curve is upward sloping d. the market demand curve is the sum of each consumer's marginal revenue curve e. each firm earns only a normal profit