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ECS 1601 ASSIGNMENT 3 SEMESTER 1 2023 UNIQUE NUMBER: 657947
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Reference: Prescribed book PG 315  Spending may be equal to production and income. In this case production and income are at their equilibrium levels – there is no tendency to change.  Spending may be greater than production and income. In this case production and income will tend to in...

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  • June 2, 2023
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ECS1601
ECS 1601
ASSIGNMENT 33 SEMESTER
ASSIGNMENT SEMESTER112020
2023
UNIQUE NUMBER: 657947
UNIQUE NUMBER: 657947
PREVIEW OF QUESTION 1
1. 2 Reference: Prescribed book PG 315

 Spending may be equal to production and income. In this case production and income are at
their equilibrium levels – there is no tendency to change.
 Spending may be greater than production and income. In this case production and income
will tend to increase. They are therefore not at their equilibrium levels.
 Spending may be less than production and income. In this case production and income will
tend to fall. They are therefore not at their equilibrium levels.




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