A model that is composed of many equations that show the channels through which monetary and fiscal policy affect aggregate output and spending is called a
A) reduced-form model.
B) median-voter model.
C) informed median-voter model.
D) structural model.
D
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Which of the following is the formula for the marginal product of labor?
A. F(L) - F(L - ?L) B. F(L)/L C. F(L)/?L D. [F(L) - F(L - ?L)]/?L
Redistribution of wealth is a microeconomic effect of inflation.
Answer the following statement true (T) or false (F)
Hi Phi Sound Unlimited has a monopoly over the installation of surround sound systems. If Hi Phi Unlimited's total revenue from installing 15 sound systems is $30,000 and its total revenue from installing 18 sound systems is $33,000, what is the marginal revenue of the eighteenth sound system?
A. -$3,000 B. $1,000 C. $1,500 D. $3,000
Refer to the data above. At the $320 billion level of disposable income, the average propensity to save is:
The disposable income (DI) and consumption (C) schedules are for a private, closed
economy. All figures are in billions of dollars.
A. .015
B. .075
C. .335
D. .925