Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Say's Law is the idea that a.total output will always exceed total spending b.the aggregate production function, along with the labor market, determines the economy's

Say's Law is the idea that

a.total output will always exceed total spending

b.the aggregate production function, along with the labor market, determines the economy's level of output

c.supply creates its own demand

d.in the long run, the economy reaches full employment automatically

e.markets always clear

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics A Problem Solving Approach

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

4th edition

1305259335, 978-1305259331

More Books

Students also viewed these Economics questions

Question

What does OODBMS stand for, and what is its purpose?

Answered: 1 week ago

Question

1. Why do we trust one type of information more than another?

Answered: 1 week ago