Given the values in the table above, the IS curve is ________
A) Y = 34.6 - 2r
B) Y = 8.65 - 2r
C) Y = 22.6 - 2r
D) Y = 8.33 - 0.67r
E) none of the above
C
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The multiplier measures the:
A. effect of government spending or tax cuts on national income. B. number of times each dollar is spent in the economy. C. supply of money in the economy. D. effect of household spending on national income.
In general, the more the substitutes available for a good
A. the more inelastic the demand for the good. B. the more elastic the demand for the good. C. the greater the demand for the good. D. the less the demand for the good.
Gross private domestic investment includes business:
A. purchases of capital goods, all new construction, and purchases of consumer durable goods. B. purchases of capital goods, all new construction, and inventory investment. C. purchases of capital goods, all new commercial construction, and inventory investment. D. purchases of all types of durable goods, all new construction, and inventory investment.
Suppose your donut shop earns $25,000 in total revenues per month with explicit costs of $15,000 and opportunity costs of $8,000. Your accounting profit is
A. $2,000. B. zero. C. $48,000. D. $10,000.