Which of the following options is/are true? At the equilibrium level of national income i. aggregate spending equals aggregate production. ii. aggregate spending equals aggregate income. iii. aggregate income equals aggregate production. iv. aggregate income equals aggregate production, but the level of aggregate spending is irrelevant.

Which of the following options is/are true? At the equilibrium level of national income i. aggregate spending equals aggregate production. ii. aggregate spending equals aggregate income. iii. aggregate income equals aggregate production. iv. aggregate income equals aggregate production, but the level of aggregate spending is irrelevant.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?

Section: Chapter Questions

Problem 1TY

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