In the equation Y = (1/1 – b + v)(a + I + G + X ? u), the term (1/1 – b + v) is referred to as the
a. level of autonomous expenditures.
b. autonomous expenditure multiplier.
c. balanced budget multiplier.
d. tax multiplier.
B
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The present value of $100 to be received one year from now
A) is $100. B) is $110. C) is $90. D) cannot be determined without knowing the interest rate.
If a person is taxed $100 on an income of $1,000, taxed $200 on an income of $2,000, and taxed $300 on an income of $3,000, this person is paying a(n):
A. progressive tax. B. proportional tax. C. regressive tax. D. excise tax.
Tasha decides that when homes in her neighborhood are selling for $150,000 she will not sell her home. When average prices rise to $175,000, she decides that she will put her home on the market. This is an example of:
A. market demand. B. a negatively-sloped supply curve. C. an excess supply of homes. D. a positively-sloped supply curve.
Which would not increase the productivity of labor?
A) An increase in the size of the labor force B) An increase in the quality of capital C) An increase in the quantity of capital D) An increase in technology E) An increase in the efficiency of energy