Given the values in the table above, consumption is ________ when equilibrium output is 15
A) 12.3
B) 11.86
C) 12.05
D) 11.55
E) none of the above
B
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When the Federal Reserve System was established in 1913, its main policy goal was
A) keeping employment high. B) preventing bank panics. C) encouraging strong economic growth. D) promoting price stability.
Suppose that one-year Treasury bills yield 5 percent in the United States and 6 percent in France. Investors will prefer the U.S. securities if they expect the dollar to __________ against the euro over the next year
A) depreciate by less than 1 percent B) depreciate by more than 1 percent C) appreciate by less than 1 percent D) appreciate by more than 1 percent
The short-run equilibrium level of real output and the price level are determined by the intersection of the aggregate demand curve and the short-run aggregate supply curve
a. True b. False Indicate whether the statement is true or false
Explain why real business cycle theorists believe that business cycles are not a problem