For Firms or Individual Households in the Simple Macro Model,which

question 68

Multiple Choice

For firms or individual households in the simple macro model,which of the following statements is correct? Desired expenditure is

• A)always greater than planned expenditure.
• B)always greater than actual expenditure.
• C)not relevant because human wants are unlimited.
• D)what they plan on spending,given the resources at their command.
• E)not a useful concept because it cannot be measured.

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Definitions:

Predict

The ability to foretell or forecast future events based on current data or observations.

Control

The power to influence or regulate people, events, or processes.

Critical Thinking

The process of actively and skillfully conceptualizing, analyzing, synthesizing, and evaluating information to reach an informed conclusion.

Open Mind

A willingness to consider new ideas and perspectives without prejudice.