Economists define the change in national income that is generated by a change in investment as
a. the marginal propensity to invest
b. the investment multiplier
c. the saving multiplier
d. the income multiplier
e. autonomous investment
D
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Which type of economy must answer the questions of what goods to produce, how to produce them, and for whom to produce them?
A. A centrally planned economy B. A market-based economy C. A developing economy D. All types of economies must answer these questions.
For the purposes of GDP accounting, government purchases
A) include transfer payments. B) are considered part of investment. C) include wages and benefits paid to government workers. D) are considered part of consumption.
During recent Global Economic Crises, consumers' wealth in the U.S. declined as a result of all of the following EXCEPT
A) the stock market crash. B) pricking of the housing bubble. C) increased household borrowing. D) aggressive fiscal policy.
Some of the benefits of globalization include
a) decreased international trade. b) lower income per person. c) higher prices for goods. d) greater product variety.