ECS 1601 ASSIGNMENT 3 AND 4

3.1 Which of the following statements is correct? [1] At any point below the 45-degree line, aggregate spending is greater than production and income. [2] At any point below the 45-degree line, aggregate spending is less than production but greater than income. [3] At any point below the 45-degree line, aggregate spending is greater than income but smaller than production. [4] At any point below the 45-degree line, aggregate spending is less than production and income. The 45-degree line...