If I = $2,000 . G = $4,000 . T = $1,000 . NX = $0, autonomous consumption = $1,000 and the marginal propensity to consume is 0.6, what is the equilibrium value of output?
a. $16,000
b. $7,000
c. $6,400
d. $3,840
e. $8,000
A
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A 2017 study showing that the proportion of people with health insurance is higher among people with higher income
What will be an ideal response?
Mr. Kent, a middle-aged bachelor, quit his news reporter job and currently is looking for a better job. The BLS counts Mr. Kent as:
A. not in the labor force. B. employed. C. unemployed. D. a discouraged worker.
When it takes time for the president and Congress to change fiscal policy to act on economic data, we have a(n)
A. aggregate time lag. B. action time lag. C. recognition time lag. D. effect time lag.