If Aggregate Output Is Below Its Equilibrium Level ________

question 79

Multiple Choice

If aggregate output is below its equilibrium level ________.

• A)there is an excess demand for goods
• B)actual output is below planned expenditure
• C)firms will tend to replenish their low inventories driving output up toward equilibrium
• D)all of the above
• E)none of the above

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Definitions:

Chromatic/Achromatic

Refers to colors with hue (chromatic) and without hue (achromatic), such as black, white, and grays.

Opponent-Process Pairs

A theory suggesting that the human visual system interprets colors in an antagonistic way, through pairs of colors opposite each other on the color spectrum.

Young-Helmholtz Theory

A theory of color vision proposing that the human eye perceives color because it has three types of receptors, each sensitive to red, green, or blue light.

Primary Color Experiences

Sensations associated with viewing primary colors (red, blue, yellow), which form the basis for the perception of all other colors through their combination.