In a Simple Model of the Economy with Demand-Determined Output,the

question 148

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

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Definitions:

Cost-Benefit Behaviorism

is an approach to understanding behavior based on the analysis of the costs and benefits of actions, often used in economics and psychology to predict decision-making processes.

Institute of Social Research

An organization or facility dedicated to conducting and disseminating research on social issues, often associated with academic institutions.

Nazi Regime

The Nazi Regime refers to the totalitarian government led by Adolf Hitler in Germany from 1933 to 1945, which is known for initiating World War II and committing massive atrocities, including the Holocaust.

Capitalist Society

is a socio-economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.