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Which of the following statements is TRUE regarding the Aggregate Expenditure model? 1The expenditure which changes as income and real GDP changes is referred to as induced expenditure 2 The expenditure which is dependent on income and real GDP is referred to as autonomous expenditure 3 The expenditure which does not change as income and real GDP changes is referred to as induced expenditure 4 The expenditure which is independent of income and real GDP is referred to as induced expenditure
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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