The economic impact of a change in spending, working through the multiplier, takes effect
a. immediately.
b. very quickly, with a small number of rounds of spending.
c. after a very long period of time.
d. after multiple rounds of spending occur.
d
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One reason supply curves have an upward slope is because
A) increased supply will require increased technology. B) to have more of the good supplied requires more firms to open. C) people will pay a higher price when less is supplied. D) a higher price brings a greater profit, so firms want to sell more of that good. E) None of the above answers is correct because supply curves have a downward slope.
The housing shock which occurred during the recession of 2007-2009 reduced wealth and residential construction, causing the
A) IS curve to shift to the right. B) IS curve to shift to the left. C) MP curve to shift up. D) MP curve to shift down.
If the rate of inflation in a given time period turns out to be lower than lenders and borrowers anticipated, then the effect will be:
a. a redistribution of wealth from borrowers to lenders. b. a redistribution of wealth from lenders to borrowers. c. a net loss in purchasing power for lenders relative to borrowers. d. a net gain in purchasing power for borrowers relative to lenders.
Which country received the most U.S. exports in 2015?
A. Canada B. China C. Mexico D. Japan