Refer to the data. The national income is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $265.
B. $223.
C. $208.
D. $346.
A. $265.
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The above table gives real GDP and the aggregate expenditure schedule. Equilibrium real GDP is
A) $11 billion. B) $12 billion. C) $10 billion. D) $14 billion. E) $13 billion.
If no fiscal policy changes are made, suppose the current aggregate demand curve will increase horizontally by $1,000 billion and cause inflation. If the marginal propensity to consume (MPC) is 0.80, federal policymakers could follow Keynesian economics and restrain inflation by decreasing:
a. government spending by $200 billion. b. taxes by $100 billion. c. taxes by $1,000 billion. d. government spending by $1,000 billion.
The natural rate of unemployment: a. is the sum of both frictional and structural unemployment when they are at a maximum. b. includes only frictional unemployment
c. includes only structural unemployment. d. includes only cyclical unemployment.
The figure below shows a single consumer's demand for ice cream at the student union. 
During the summer, there are 300 students on campus. Each student's weekly demand for ice cream is shown above. When the price of ice cream is $2.00 per scoop, those 300 students purchase a total of ________ scoops per week from the student union.
A. 3,000 B. 1,200 C. 1,800 D. 1,500