Multiple Choice
If the economy is in equilibrium, it must be
A) on the 45° line.
B) on the 60° line.
C) below the 45° line.
D) below the 60° line.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q52: For a given price level, a downward
Q53: Because of a recession in Japan, net
Q54: In the standard 45° line expenditure model,
Q55: If the MPC is 0.67, then the
Q56: When GDP decreases, consumption spending increases.
Q58: A decrease in the price level causes
Q59: The actual multiplier for the U.S.economy is
Q60: The equilibrium level of GDP is the
Q61: A higher price level leads to<br>A)lower real
Q62: According to the income-expenditure diagram, total production