A general equilibrium is an outcome in which
A) all the markets in the economy are in equilibrium at the same time.
B) exports and imports are both zero.
C) the inflation rate is zero.
D) no further economic growth is possible.
Correct Answer:
Verified
Q5: For the goods market to be in
Q6: In a closed economy, national saving equals
A)C
Q7: In a closed economy, the total quantity
Q8: A closed economy is one in which
A)investment
Q9: In macroeconomic models, Y typically represents
A)aggregate wealth.
B)the
Q11: In the saving-investment diagram, an increase in
Q12: In macroeconomic models, Y stands for
A)only aggregate
Q13: In a closed economy, the goods market
Q14: Evidence suggests that when government purchases rise
A)national
Q15: An increase in the real interest rate
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