Which of the following is a major macroeconomic goal?
a. Low prices
b. Declining prices
c. Pure competition
d. Stable prices
e. High prices
D
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The relationship between real consumption spending and real disposable income
A) is direct. B) is inverse. C) plots a vertical line. D) plots a horizontal line.
A drought in the US Corn Belt will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.
In a certain economy, the components of planned spending are given by: C = 500 + 0.8(Y - T) - 300rI P = 200 - 400rG = 200NX = 10T = 150 Given the information about the economy above, which expression gives induced expenditures?
A. 0.8Y B. [910 ? 700r ] C. 0.2Y D. [790 ? 700r ]
Explain why abrupt changes in farm output have a magnified effect on market prices.
What will be an ideal response?