Suppose the marginal propensity to consume (MPC) is 0.8 and there is a $2,000 increase in autonomous consumption. Given this information, real GDP will increase by

A) $10,000. B) $2,500. C) $1,600. D) $2,000.


A

Economics

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Scarcity refers to a situation in which unlimited wants exceed the limited resources available to fulfill those wants

Indicate whether the statement is true or false

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The SRAS is ____; the LRAS is ____

a. upward sloping; upward sloping b. upward sloping; vertical c. vertical; upward sloping d. vertical; vertical

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In Eastern Europe and the countries of the former Soviet Union,

a. grave environmental problems plague Eastern Europe. b. the area suffers from widespread illness and countless premature deaths. c. the Aral Sea, once the world's fourth-largest inland sea, is now half its previous size. d. All of the above are correct.

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