Consumption Spending Is $5 Million,planned Investment Spending Is $8 Million,actual

question 260

Multiple Choice

Consumption spending is $5 million,planned investment spending is $8 million,actual investment spending is $8 million,government purchases are $10 million,and net export spending is $2 million.Based on this information,which of the following is true?

• A)There was an unplanned change in inventories.
• B)Aggregate expenditure is equal to GDP.
• C)Aggregate expenditure is greater than GDP.
• D)Aggregate expenditure is less than GDP.

Understand the budget constraints faced by consumers and how they affect consumption choices.

Explain the influence of changes in market conditions on consumer demand and utility.

Understand the concept of self-esteem and its psychological impact.

Identify the biases and effects related to self-perception and performance evaluation.

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Definitions:

IQ

Short for Intelligence Quotient, a measure of a person's intelligence as indicated by an intelligence test, compared to the average for people of their age.

Chronological Age

The measure of an individual's age based on the calendar date from their date of birth.

Intelligence Quotient

A standardized measure of human intelligence based on a series of tests that assess cognitive abilities in relation to an age group.

William Stern

A German psychologist best known for developing the concept of the intelligence quotient (IQ) and for his significant contributions to differential psychology and personality theory.