Which of the Following Occurs When the Goods Market Is

question 22

Multiple Choice

Which of the following occurs when the goods market is in equilibrium?

• A)Domestic output (Y)equals the demand for domestic goods.
• B)Y equals the domestic demand for goods.
• C)Y equals the domestic demand for domestic goods.
• D)Net exports equals 0.
• E) Demand for domestic goods equals the domestic demand for goods.

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Definitions:

Income

The monetary payment received for goods or services, or from other sources, as rents or investments.

Inequality

The existence of unequal opportunities and rewards for different social positions or statuses within a group or society.

Intergenerational Mobility

The changes in social status that occur from one generation to another within a family or community.

Intragenerational Mobility

The social movement of individuals within their own lifetime, reflecting changes in their social status or class.