If an economy's GDP falls, then it must be the case that the economy's
A. Income and saving fall
B. Income and market value of all products both fall.
C. Income falls and the market value of all production rises.
d.Income rises and the market value of all production falls.
2. Gross Domestic product measures
a. Income and expenditure.
B. Income
c. Expenditure.
d. Neither.
3. If all quantities produced in the united states rise by 13.4% and all prices fall by 13.4% which of the following occurs?
Does Real GDP rise or fall? Does the nominal GDP rise or fall?
4. Which of the following does not add to US GDP?
a. The federal gov. Sends a social security check to your grandmother.
b. CIty of new york pays a salary to policemen.
c. Air France buys a plane from Boeing, the US aircraft manufacturer.
5. IS the best single measure of a society's economic well-being the unemployment rate or the GDP?
6. Keynesian economics was developed by John Keynes in response to:
A. The great recession.
b. The great depression.
C. Out of control gov. spending.
17. For an economy as a whole,
a. Wages must equal profit.
b. consumption must equal income.
c. Income must equal expenditure.
d. Consumption must equal saving.
8. As in the case f Ireland, Keynesian economics does not tend to work in countries that:
a. Are large and self-sustaining.
b. Are small and insulated.
c. Are medium-sized with good governments.
d. Are smaller and are open to free (ish) trade.
e. Are large and have free trade.
Thanks! Please be as detailed as you can.!
If an economy's GDP falls, then it must be the case that the economy's
A. Income and saving fall
B. Income and market value of all products both fall.
C. Income falls and the market value of all production rises.
d.Income rises and the market value of all production falls.
2. Gross Domestic product measures
a. Income and expenditure.
B. Income
c. Expenditure.
d. Neither.
3. If all quantities produced in the united states rise by 13.4% and all prices fall by 13.4% which of the following occurs?
Does Real GDP rise or fall? Does the nominal GDP rise or fall?
4. Which of the following does not add to US GDP?
a. The federal gov. Sends a social security check to your grandmother.
b. CIty of new york pays a salary to policemen.
c. Air France buys a plane from Boeing, the US aircraft manufacturer.
5. IS the best single measure of a society's economic well-being the unemployment rate or the GDP?
6. Keynesian economics was developed by John Keynes in response to:
A. The great recession.
b. The great depression.
C. Out of control gov. spending.
17. For an economy as a whole,
a. Wages must equal profit.
b. consumption must equal income.
c. Income must equal expenditure.
d. Consumption must equal saving.
8. As in the case f Ireland, Keynesian economics does not tend to work in countries that:
a. Are large and self-sustaining.
b. Are small and insulated.
c. Are medium-sized with good governments.
d. Are smaller and are open to free (ish) trade.
e. Are large and have free trade.
Thanks! Please be as detailed as you can.!
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The economy is in equilibrium, TP = TE, and Real GDP is $4,555 billion. The MPC is 0.80, the multiplier is operative, and idle resources exist at each expenditure round. Government purchases rise by $10 billion. As a result, the __________ curve shifts __________, inventory levels unexpectedly __________, business firms ___________ the quantity of goods and services they produce, and Real GDP __________ by __________.
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1. The multiplier helps explain
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A. why a decrease in taxes causes real Gross Domestic Product (GDP) to fall by more than the amount of the decrease in taxes. |
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B. why a fall in investment cause real Gross Domestic Product (GDP) to rise by more than the amount of the decrease in investment. |
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C. why a rise in government expenditures causes real Gross Domestic Product (GDP) to rise by more than the amount of the increase in government spending. |
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D. why an increase in disposable income causes real Gross Domestic Product (GDP) to rise by less than the amount of the increase in disposable income. Ā 2. If the marginal propensity to save (MPS) increases, the multiplier
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