Equilibrium expenditure is the level of aggregate expenditure at which
A) aggregate planned expenditure equals real GDP.
B) aggregate private expenditure equals real GDP.
C) planned inventory investment equals zero.
D) aggregate production equals real GDP.
E) aggregate actual expenditure equals real GDP.
A
Economics
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Which of the following is not a feature of the steady state in Solow's exogenous growth model?
A) The capital/output ratio is steady. B) Capital grows continuously. C) Consumption per worker is steady. D) Total saving is steady.
Economics