Q3 of 25 Page 4

Define Aggregate Supply.

Aggregate supply is the money value of all the final goods and services available for purchase by ane economy during a given period. The money value of all the final goods and services is the net value-added, so AS is the national income.


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1

Define autonomous investment

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What is the equilibrium income?

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Define induced investment.

 5

The sum total of APC and APS is always equal to one, even when APC >1. Is it true?