The expenditure multiplier explains how a change in
A) real GDP leads to a change in autonomous expenditure.
B) autonomous expenditure leads to a change in real GDP.
C) real GDP leads to a change in induced expenditure.
D) induced expenditure leads to a change in autonomous expenditure.
E) induced expenditure leads to a change in real GDP.
B
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Gross Domestic Product in 2017 is more than five times larger than it was in 1960 but it is important to note that
A. none of the growth represented additional output of goods and services. B. this measurement of output fails to account for any of the effects of inflation. C. the population also grew substantially over the same time period. D. available graphs of output are unable to display such growth.
Before the EEOC can take any action at all, it must receive a sworn complaint from an individual
Indicate whether the statement is true or false
For a monopoly, the level of output at which marginal revenue equals zero is also the level of output at which
a. average revenue is zero. b. profit is maximized. c. total revenue is maximized. d. marginal cost is zero.
Which of the following is not an opportunity cost of attending college?
A. the alternative uses of the time you spend studying B. the tuition you pay C. the income you could have earned if you didn't attend college D. the cost of the food that you consume while you are attending college