Determine if is true or false: a.At any given moment, the amount of capital and

Question

Determine if is true or false:

a.At any given moment, the amount of capital and the state of technology are fixed.
b.. Real GDP and potential GDP can be affected by natural disasters.
c.. If the aggregate planned expenditure is less than real GDP, companies do not sell everything they produce and end up with inventories that had not been planned.
d.. Classical economists believe that the economy should be regulated by the government.
e.. A change in the price level causes a movement along the aggregate supply currvas and modifies the aggregate supply.

Explanation / Answer

a. At any given moment, the amount of capital and the state of technology are fixed. - True
b.. Real GDP and potential GDP can be affected by natural disasters- True
c.. If the aggregate planned expenditure is less than real GDP, companies do not sell everything they produce and end up with inventories that had not been planned.- True
d.. Classical economists believe that the economy should be regulated by the government- false
e.. A change in the price level causes a movement along the aggregate supply currvas and modifies the aggregate supply.- True

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