If the marginal propensity to consume (MPC) is 0.75 and government purchases increase by $200 billion, then
A) equilibrium real Gross Domestic Product (GDP) will increase by $50 billion.
B) the effect on equilibrium real Gross Domestic Product (GDP) cannot be determined from the given information.
C) equilibrium real Gross Domestic Product (GDP) will increase by $800 billion.
D) equilibrium real Gross Domestic Product (GDP) will increase by $200 billion.
C
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A. will have no effect on the market. B. will lead to a black market. C. will lead to excess supply in the market. D. will lead to excess demand in the market.
Which region's agricultural system developed very differently from that of the rest of the nation?
A. the West B. the Midwest C. New England D. the South
In games with more than three players, the vertical axes measure
A) the number of players. B) payoffs. C) time. D) all of the above
In one day, Sue can change the oil on 20 cars or change the tires on 20 cars. In one day, Fred can change the oil on 20 cars or change the tires on 10 cars
Sue's opportunity cost of changing oil is ________ than Fred's and her opportunity cost for changing tires is ________ than Fred's. A) greater; less B) less; greater C) less; less D) greater; greater