At what level of disposable income is saving 1400?
3,000
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When the economy goes into recession, the biggest increase in unem-ployment is _________
A. structural because jobs are lost in most states B. cyclical because jobs are lost in many industries as they cut production C. frictional because the creation of jobs slows D. the combination of structural and frictional as few new jobs are created.
In equilibrium, rate of growth of capital in a simple closed economy (i.e., x = 0 ) is determined primarily by
A) the growth rate of savings. B) the level of saving less expenditures for replacement capital. C) per capita well-being. D) the growth rate of replacement capital.
According to the new classical macroeconomists, each of the following statements is true EXCEPT:
A) Disinflation will be harder to bring about because of the time-inconsistency problem. B) Policymakers are tempted to deviate from the preannounced policy once the public changes its expectations. C) Feedback rules are preferred to discretionary rules. D) Disinflation will be painless if the restrictive policies announced by the government are credible.
Refer to Figure 9.6. As a result of this policy, quantity will
A) fall to 300. B) rise to 400. C) stay at 400. D) fall to 400. E) rise to 600.