At equilibrium income:
a. planned and actual expenditure are equal.
b. GDP will remained unchanged until an exogenous shock occurs.
c. unplanned inventories are equal to zero.
d. all of the above.
D
Economics
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Which of the following is a benefit of economic growth?
A) reduction in illiteracy B) reduction in poverty C) improved health D) all of the above
Economics
Monopolistic competition and perfect competition differ because
A) only monopolistically competitive firms will set MR = MC. B) only perfectly competitive firms will set MR = MC. C) only monopolistic competition allows for entry of other firms in the long run. D) only competitive firms take the price as given.
Economics