In the above figure, what is the equilibrium level of real consumption spending?
A) $3.0 trillion B) $0.0 trillion C) $1.0 trillion D) $2.0 trillion
D
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Between 1981 and 1986, as the federal budget deficit increased,
A. consumption spending fell. B. investment spending was crowded out. C. net exports increased. D. net exports were crowded out.
Refer to Figure 14.3. To maximize economic rent, the labor union will agree to wage rate:
A) W0. B) W1. C) W2. D) W3. E) none of the above
If nominal GDP is 2700 and the money supply is 900, what is velocity?
a. 25 b. 13.5 c. 3 d. 0.33
International capital flows in an open economy have the effect of
a. increasing the power of fiscal policy. b. reducing the power of fiscal policy. c. reducing the power of fiscal policy in an expansion, and increasing it in a contraction. d. increasing the power of fiscal policy in an expansion, and reducing it in a contraction.