Use the following table with data for a private (no government) closed economy to answer the next question. All figures are in billions of dollars.Domestic Output or Income (RGDP = DI)Consumption$540$540560555580570600585620600640615660630If planned investment is $25 billion, then aggregate expenditures at the income level of $560 billion will be
A. $565 billion.
B. $585 billion.
C. $580 billion.
D. $595 billion.
Answer: C
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If the CPI is 120 in 1996 and 180 in 2002, then between 1996 and 2002, prices have increased by
A) 180%. B) 80%. C) 60%. D) 50%.
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A
B. B
C. C
D. D
The primary difference between a proprietorship and partnership form of business organization is
a. the proprietorship is subject to unlimited liability, and a partnership is subject to limited liability b. the proprietorship is primarily international, and the partnership is primarily multinational c. the number of persons involved in the ownership and management of the enterprise d. the proprietorship produces products, and the partnership produces services e. the proprietorship finances expansion through the issue of stocks, and the partnership relies on bonds
If technology improves when a nation is in the intermediate range and only the Aggregate Supply changes, then:
a. Real GDP rises and real GDP remains the same. b. Real GDP remains the same and average price level falls. c. Real GDP remains the same and average price level rises. d. Real GDP rises and average price level falls. e. Real GDP falls and average price level rises.