The largest single expenditure component of GDP is:
a. consumption

Assume equilibrium real GDP per year is equal to full-employment real GDP. If aggregate demand falls, then

A) the price level will increase in the short run and decrease in the long run. B) long-run aggregate supply will eventually decrease too. C) there will be an expansionary ga

Refer to the above table. There is an excess quantity supplied of 2,000 units at a price of

A) $450. B) $500. C) $600. D) $700.