In a supply-driven economy, which of the following statements are correct? Select all correct statements: Select one or more: a. output is produced by a production function. b. demand creates its own supply. O c. if the economy is closed, what is not consumed by households or governments is invested in new capital. O d. higher saving raises incomes in the future.

In a supply-driven economy, which of the following statements are correct? Select all correct statements: Select one or more: a. output is produced by a production function. b. demand creates its own supply. O c. if the economy is closed, what is not consumed by households or governments is invested in new capital. O d. higher saving raises incomes in the future.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 14RQ: Are households demanders or suppliers in the goods market? Are firms demanders or suppliers in the...

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