In Figure 15-2 above, the difference between consumption levels at point A and point B is equal to
A) the long run MPC times the change in disposable income.
B) the short run MPC times the change in disposable income.
C) (Y0 - Y2 ) times the short run change in income.
D) the long run change in income times (Y0 - YP).
B
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All other things remaining the same, a large increase in the net number of Mexican immigrant workers in the United States from Mexico causes:
a. U.S. GNP to be greater than the U.S. GDP. b. U.S. GNP to be less than the U.S. GDP. c. U.S. gross private domestic investment to rise. d. U.S. GNP to be greater than the U.S. GDP because U.S. gross private domestic investment rises
Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks. The Bureau of Labor Statistics counts Sheila as
a. unemployed and in the labor force. b. unemployed and not in the labor force. c. employed and in the labor force. d. employed and not in the labor force.
The Standard & Poor's 500 Index differs from the Dow Jones Industrial Index because:
A. it is a price-weighted index, where the DJIA is a value-weighted index. B. it takes into account the prices of more stocks and it uses a different weighting scheme. C. larger firms are less important in the S&P 500 than in the DJIA D. it takes into account the stock prices of 500 of the largest firms, which is less than the DJIA
Using the fiscal year 2017 estimates, the largest component of federal revenue is the
A) individual income tax. B) corporate income tax. C) excise tax. D) social insurance and contributions.