21.2 Equilibrium National Income FIGURE 21-3

question 28

Multiple Choice

21.2 Equilibrium National Income FIGURE 21-3
-Refer to Figure 21-3.All points along the 45-degree line represent

• A)combinations of desired aggregate expenditure and actual national income where consumption expenditure equals saving.
• B)the equilibrium condition that desired aggregate expenditure equals actual national income.
• C)levels of actual national income where desired AE is equal to the sum of desired consumption and desired investment.
• D)levels of actual national income that occur when autonomous expenditure is increasing at a constant (linear)rate.
• E)levels of actual national income where desired saving is equal to zero.

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Definitions:

Industrial Workers Of The World

An international labor union founded in 1905, known for its radical approach to workers' rights and socialism.

United Mine Workers

A labor union that represents coal miners in the United States and Canada, focusing on improving working conditions and wages.

Eugene Debs

An American socialist, political activist, trade unionist, one of the founding members of the Industrial Workers of the World, and five times the candidate of the Socialist Party of America for President of the United States.

Pullman Strike

A nationwide railroad strike in the United States in 1894, which severely disrupted rail traffic in the Midwest and led to intervention by federal troops.