Using your table, calculate the total amount of income and consumption and deduce the value of the national income multiplier
What will be an ideal response?
Answer:
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Aggregate expenditure includes consumption spending, planned investment spending, government purchases, and net exports
Indicate whether the statement is true or false
The budget deficit tends to decline during periods of recession and to increase during periods of economic recovery
a. True b. False Indicate whether the statement is true or false
When the economy produces less than its potential output, it is:
A. called a recession. B. not in long-run equilibrium. C. producing a quantity less than the long-run aggregate supply quantity. D. All of these are true.
Unilateral transfers involve money being sent abroad without any direct good or service being received.
Select whether the statement is true or false. A. True B. False