Refer to the accompanying figure.
Based on the Keynesian cross diagram, at short-run equilibrium output autonomous expenditure equals ________ and induced expenditure equals ________.
A. 3,000; 4,000
B. 4,000; 2,000
C. 1,000; 4,000
D. 1,000; 3,000
Answer: D
You might also like to view...
Use the following graph of total revenues to answer the question below. When the seller is earning maximum revenues from selling Product X, the demand is
A. inelastic. B. perfectly inelastic. C. elastic. D. unit-elastic.
According to neuroeconomists, the limbic portion of the brain called the amygdala is more primitive and deals with emotion
a. True b. False Indicate whether the statement is true or false
Comparative advantage is the ability of a country to produce a good at a higher opportunity cost relative to other countries
Indicate whether the statement is true or false
Autonomous expenditure is spending that is:
A. not sensitive to the level of income in the economy. B. what is spent when income changes in the economy. C. depends on the level of income in the economy. D. that is determined by the government.