Which of the following is necessary for the economy to be in equilibrium?
a. Income must be greater than output.
b. Income must be less than output.
c. Aggregate expenditure must equal output.
d. Aggregate expenditure must equal investment.
c. Aggregate expenditure must equal output.
Economics
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When net unilateral transfers are added to the net exports of goods and services, the result is called the
a. merchandise trade balance b. official reserve transactions account c. balance of payments d. balance on capital account e. balance on current account
Economics
What are two real-world complications with the long-run conclusion about the representative firm in the model of monopolistic competition?
What will be an ideal response?
Economics