If a number equal to the mean of a series of observations is added to the series, the new mean is:
A) smaller than the original mean.
B) greater than the original mean.
C) same as the original mean.
D) either greater or smaller than the original mean depending on the number of observations in the series.
C
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If Turkey wants to promote faster economic growth, it will need to
A) promote government intervention to help markets determine incentives. B) restrict property rights so that individuals can better share inventions. C) promote incentive systems to encourage saving, research and development, increased trade and improved education. D) restrict economic freedom so the government has better control of markets. E) restrict international trade to protects its own workers.
Should autonomous consumption fall by one dollar, the effect of this on equilibrium income can be offset if government expenditure
A) falls by one dollar. B) rises by one dollar. C) falls by 1/(1 - c) dollars. D) rises by 1/(1 - c) dollars. E) rises by c/(1 - c) dollars.
Which of the following would cause the U.S. money supply to expand?
a. a commercial bank using excess reserves to extend a loan to a customer b. a commercial bank purchasing U.S. securities from the Fed as an investment c. an increase in reserve requirements d. an increase in the discount rate
As portrayed in terms of total expenditures (TE) and total production (TP), discuss at least three assumptions that sum up the workings of the simple Keynesian model