Income Determin...

The two approaches to determination of the equilibrium level of income are:

_____________________ is defined as the multiple amount by which income increases as a result of increase in investment expenditure.

If MPC = 0.8 and fixed consumption is 600, write the consumption equation.

According to ________________ equilibrium level of income is determined at the level where planned investment equals planned saving.

The multiplier can be expressed algebraically as _________________.

If MPC = 0.7 and fixed consumption is 700, write the saving equation.

Aggregate supply function is a ___________ curve.

_____________ refers to what the households and firms are expected to spend on the purchase of different goods and services in the economy.

The aggregate demand curve intercepts on the _________.

_______________ is the minimum amount of money, which all the entrepreneurs in the economy must receive from the sale of output produced by them, at any given level of employment.