Whenever there is an increase in autonomous consumption spending, there will be
a. an upward shift of the aggregate expenditure line causing equilibrium GDP to rise
b. an upward shift of aggregate expenditure line, but no change in equilibrium GDP
c. no change in the aggregate expenditure line, but equilibrium GDP will rise
d. an upward shift of the aggregate expenditure line, causing equilibrium GDP to fall
e. no change in the aggregate expenditure line or equilibrium GDP
A
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If it takes 35 years for real GDP to double, real GDP is growing at an annual rate of approximately 2%
Indicate whether the statement is true or false
Give three reasons why the U.S. economy is more stable since 1950
What will be an ideal response?
Capital budgeting projects include all of the following except
A) the purchase of a six-month treasury bill. B) the expansion of a plant. C) the development of a new product. D) the replacement of a piece of equipment.
What are the determinants of elasticity of supply?