When the government closes an expansionary gap with a change in government spending, the _____ in government spending leads to _____.
Fill in the blank(s) with the appropriate word(s).
decrease; a decrease in both real GDP and the price level
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Refer to the figure above. What is the equilibrium rate of interest when the credit demand curve is CD2 and the credit supply curve is CS1?
A) 3% B) 4% C) 5% D) 2%
A higher price level causes
A) the C + I + G + X curve to shift u
When the slope of the total product curve is steep, the marginal product is
A) zero. B) negative. C) high. D) low. E) not defined.
According to an Asian Development Bank report in 2007, China's Gini coefficient, a statistical measure of wealth distribution in society, soared to 47.3 in 2004 from 40.7 in 1993, putting the country at a level more typical of Latin America
China experienced ________. A) a decrease in income inequality B) an increase in income inequality C) a decrease in income D) an increase in income