Consider a Closed Economy Without a Government and Without International

question 138

Multiple Choice

Consider a closed economy without a government and without international trade. What will be TRUE when this economy is in equilibrium?

• A) Total planned real investment spending will exceed total planned real expenditures.
• B) Planned real investment spending will exceed real planned saving.
• C) Planned real consumption spending equals real GDP.
• D) Planned real consumption spending plus planned real investment spending equals real GDP.

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Definitions:

Social Control

Mechanisms, strategies, and institutions society uses to regulate individual and group behavior to conform to societal norms and rules.

Minority Influence

Describes a situation where a smaller group within a larger society can influence the majority to accept their beliefs or behaviors.

Peripheral Route Persuasion

A method of persuasion that relies on superficial cues to promote acceptance of an argument, rather than logical reasoning.

Central Route Persuasion

A method of persuasion that involves deeply processing the content of a message, considering logical and factual arguments.