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Technician A says the computer uses the TP sensor and ECT sensor signals to determine the amount of air entering the engine in a speed-density system. Technician B says the computer uses the TP sensor and oxygen sensor signals to determine the amount of air entering the engine in a speed-density system. Who is correct?
Spending Multipliers
Describe the effect of a change in spending (typically by the government) on the total economic output, indicating how initial spending leads to increased levels of income and consumption.
Permanent Income
A theory suggesting that people's consumption choices are more influenced by their expected long-term average income rather than by their current income.
Consumption Spending
Expenditures by individuals and households on goods and services for personal use.
Aggregate Supply
The total supply of goods and services that firms in an economy are willing and able to sell at a given price level in a specific period.
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