If the combination r = 5% and Y = $450 billion is on the IS curve, we know that the combination r = 5% and Y = $300 billion would represent
A. a movement up the IS curve.
B. a movement down the IS curve.
C. the IS curve shifting to the left.
D. the IS curve shifting to the right.
Answer: C
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The table above shows the transaction in Pinkland last year:
a) Calculate Pinkland's GDP. b) What approach did you use to make this calculation?
Which of the following is considered a microeconomic issue?
A. The local university decides to raise tuition for online course offerings. B. The country of Zimbabwe has experienced a decline in inflation. C. The economic growth rate was reported at 2.4 percent in the first quarter of 2013 for the United States. D. The unemployment rate in Greece is 22.8 percent.
Which of the following is not one of the fundamental economic questions all societies must face? a. What goods and services are to be produced?
b. How goods and services are to be produced? c. Which goods and services are to be produced by the government? d. Who is to receive the goods and services produced in the society?
Which of the following statements is true when total spending equals total output?
a. Saving plus taxes equals investment plus government purchases. b. Output equals investment plus government purchases plus saving plus taxes. c. Output equals consumption spending plus investment plus government purchases plus saving plus taxes. d. Output equals consumption plus investment plus taxes. e. Saving plus investment equals taxes plus government purchases.