For an economy as a whole, income must equal expenditure because Question 7 options: the number of firms is equal to the number of households in an economy. individuals can only spend what they earn each period. every dollar of spending by some buyer is a dollar of income for some seller. every dollar of saving by some consumer is a dollar of spending by some other consumer.

Amarket is said to be equilibrium when quantity demanded is equal to quantity supplied. critically analyse the above statement by giving different types of market

As the marginal propensity to consume (mpc) increases, the multiplier remains the same. increases. decreases. as the marginal propensity to save (mps) increases, the multiplier decreases. increases. remains the same. if the marginal propensity to consume is 0.30, what is the multiplier, assuming there are no taxes or imports? round to the tenths place. given the multiplier that you calculated, by how much will gross domestic product (gdp) increase when there is a $1,000 increase in government spending? $

Which term refers to the cost that motivates an economic decision