Whenever exports exceed imports (and other planned injections equal other planned leakages), the eco
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Whenever exports exceed imports (and other planned injections equal other planned leakages), the economy
a. remains stable
b. expands
c. contracts
d. deflates
If the government finances its spending through taxes which absorb idle funds that were not going to be spent by the private sector, a balanced budget can have anexpansionary effect.
True
False
Accumulation and depletion of inventories affect the circular flow of income.
True
False
In the long run, under conditions of perfect competition, market forces come into play to
a. enhance profits
b. increase demand
c. eliminate profits
d. separate MR and AR
Under conditions of perfect competition, short-run equilibrium does not necessarily exist where
a. profit is maximized or loss minimized
b. MR = AR
c. MR = MC
d. MR = ATC
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