In a simplified circular flow model with no government, in equilibrium, S = I + (X − IM).
Correct Answer:
Verified
Q13: The expenditure schedule includes the consumption function.
Q14: If total spending is greater than current
Q15: When total spending is less than production,
Q16: If investment spending depends on GDP, this
Q17: When demand for goods and services is
Q19: Equilibrium GDP occurs when total spending equals
Q20: When inventories accumulate, unemployment rises.
Q21: The equilibrium level of GDP is always
Q22: The full employment level of GDP is
Q23: The U.S.economy in 2009 was characterized by
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents