In a Simple Model of the Economy with Demand- Determined

question 27

Multiple Choice

In a simple model of the economy with demand- determined output, the equilibrium level of national income is at an income

• A)to the left of the point where the AE curve intersects the 45- degree line.
• B)to the right of the point where the AE curve intersects the 45- degree line.
• C)where aggregate desired expenditure equals the value of total output.
• D)where saving equals consumption.
• E)where aggregate desired expenditure equals consumption.

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