Which of the following is NOT true according to Say's law?
A) Producing goods and services generates the means and the willingness to purchase other goods and services.
B) Desired expenditures will always be higher than actual expenditures.
C) Supply creates its own demand.
D) No overproduction is possible in a market economy in the long run.
B
Economics
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Refer to Figure 17-8. A typical long-run Phillips curve would have the appearance of a curve running through points
A) B and C. B) A and B. C) A and C. D) A, B, and C.
Economics
A useful macroeconomic model
A) is extremely realistic. B) is simple. C) never generates testable hypotheses. D) provides a lot of intricate details.
Economics