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Economics for Today 7th Edition by Irvin Tucker
Edition 7ISBN: 978-1133154457Economics for Today 7th Edition by Irvin Tucker
Edition 7ISBN: 978-1133154457 Exercise 1
The French classical economist Jean-Baptiste Say transformed the equality of production and spending into a law that can be expressed as follows:
A) The invisible hand creates its own supply.
B) Wages always fall to the subsistence level.
C) Supply creates its own demand.
D) Aggregate output does not always equal consumption.
A) The invisible hand creates its own supply.
B) Wages always fall to the subsistence level.
C) Supply creates its own demand.
D) Aggregate output does not always equal consumption.
Explanation
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A is incorrect, as the change in demand ...
Economics for Today 7th Edition by Irvin Tucker
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