Consider an economy without an international or government sector. Which of the following statements is false? Group of answer choicesY – C = SY = C + IC + I = SS = I

Statement I: An industrial system consists of inputs, processes, and outputs.Statement II: The outputs are the raw materials, labour and costs of land, transport, power and other infrastructure.A Statement I is true and II is False B Statement I is False and II is True C Both are true D Both are False

Which of the following statement is false?

Which of the following statements is TRUE?Group of answer choicesYour expenditures are the money you earn.The money you earn should be greater than your income.Your expenditures should be less than the money you put into your account.All of the above

Which of the following statements is correct for the case of a simple economy without government or external sectors?Group of answer choicesA position of equilibrium would require that there should be no unplanned changes in inventories or incentive for producers to alter output.The phrase “supply adapts to demand” is another way of saying that planned saving determines planned investment.According to the national accounts, planned saving and planned investment need not be equal and nor should actual saving and actual investment necessarily be equal, regardless of whether or not the economic system is in equilibrium.Macroeconomic equilibrium is a situation where plans of consumers and producers are realized but output is always equal to aggregate planned expenditure regardless of whether or not the economic system is in equilibrium.

Which economy has little to no government interference?Group of answer choicesNo answer text provided.Market EconomyTraditional EconomyMixed Economy