If an increase in autonomous consumption spending of $25 million results in a $100 million increase in equilibrium real GDP, then
A) the MPC is 0.25. B) the MPC is 0.75. C) the MPC is 0.8. D) the MPC is 2.5.
B
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If the price of product L increases, the demand curve for close-substitute product J will:
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Refer to the information provided in Figure 1.5 below to answer the question(s) that follow. Figure 1.5Refer to Figure 1.5. Which of the Panels shows a curve or line that has a slope that is positive and increasing?
A. A B. B C. C D. D