Author Question: Aggregate expenditure includes consumption spending, planned investment spending, government ... (Read 246 times)

madam-professor · **on:** Jun 29, 2018

Aggregate expenditure includes consumption spending, planned investment spending, government purchases, and net exports.

Indicate whether the statement is true or false

Question 2

Refer to Figure 11-16. The figure above illustrates a series of isoquants. Which of the following statements is true?

A) Points z and y represent the same output; this output is produced with more capital at z than at y.
B) Point z represents a greater output than point x or point y.
C) Points x, z, and y all represent the same output.
D) Point x and y represent the same output but the cost of production at y is greater than the cost of production at x.