In an open economy, which of the following will cause an increase in the size of the multiplier?
A) a reduction in the marginal propensity to import
B) a reduction foreign output
C) an increase in the marginal propensity to save
D) all of the above
E) none of the above
A
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The marginal cost of labor for a perfectly competitive firm is given by:
a. the change in total revenue that results from employing an additional worker. b. the market wage rate. c. its marginal revenue product curve. d. the demand curve for labor. e. the marginal product of labor.
Each firm under perfect competition charges different prices for its products
a. True b. False Indicate whether the statement is true or false
There has been a decrease in the demand for socks. This change can be shown graphically as a:
A. shift in the demand curve to the left. B. shift in the demand curve to the right. C. movement along the demand curve to the right. D. movement along the demand curve to the left.
Which of the following treaties led to the creation of the common European currency, the euro?
A. The Treaty of Commerce and Navigation B. The Treaty of Westminster C. The Maastricht Treaty D. The Merger Treaty