U.S. GDP excludes underground activities
Indicate whether the statement is true or false
TRUE
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C = $750 + 0.75(1 - 0.4)y i = $600 g = $500 nx = -$50
Use the above data to: a. Calculate the equilibrium level of GDP b. Calculate the value of the expenditure multiplier c. Find the change in the initial equilibrium GDP if autonomous investment increases by $75. d. Find the change in the initial equilibrium GDP if autonomous government purchases decreases by $50. e. Find the change in the initial equilibrium GDP if autonomous net exports increase by $10.
Redemptioners were immigrants who:
a. came to America as missionaries. b. were brought over on credit provided by ship captains. c. had previously been imprisoned in England. d. refused to work as indentured servants.
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
A continuous decrease in the level of prices over time is called ________.
A) deflation B) inflation C) disinflation D) deflection E) depression