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Unformatted text preview: nding by households and governments on final goods and services
d. spending by households, government, firms, and foreigners on final goods and services
e. all spending and saving by households, firms, and governments.
____ 19. In the short-run macro model, adjustment toward equilibrium is facilitated by price changes.
____ 20. If aggregate expenditure at a particular level of income is less than output,
a. output will increase
b. output will decrease
c. output will remain the same
d. output will rise slightly and then level off
e. we cannot determine what will happen to output
____ 21. In...
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This note was uploaded on 02/07/2014 for the course ECON 1020-02 taught by Professor Rahman during the Spring '13 term at Tulane.
- Spring '13