If disposable income is $400 billion, consumption spending is $380 billion, and MPC is 0.5, what is the level of saving?
A. $20 billion.
B. $210 billion.
C. $380 billion.
D. $590 billion.
Answer: A
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Economic growth is represented by a:
A. leftward shift of a production possibilities curve. B. rightward shift of the long-run aggregate supply curve (LRAS). C. horizontal long-run aggregate supply curve (LRAS). D. downward shift of an aggregate production function.
The relationship between the level of prices and the total demand for all goods and services is known as:
A. aggregate supply. B. market supply. C. aggregate demand. D. market demand.
The Latin American region has more economic equality than the high-growth Asian economies because nations are more democratic
Indicate whether the statement is true or false
In Macroland, 500 000 of the 1 million people in the country are employed. Average labour productivity in Macroland is $20 000 per worker. Real GDP per person in Macroland totals:
A. $1000 B. $10 000 C. $15 000 D. $20 000