The marginal propensity to save is found by dividing ___________ by ________.
Fill in the blank(s) with the appropriate word(s).
change in saving; change in disposable income
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If vouchers for a good or service given to consumers, then the supply curve ________ and the demand curve ________
A) shifts leftward; shifts leftward B) shifts leftward; shifts rightward C) shifts rightward; shifts rightward D) does not shift; shifts rightward E) shifts rightward; does not shift
Which of the following statements CORRECTLY describes the policy stance of a macroeconomist?
A) A monetarist believes that the quantity of money should be constantly changed in order to offset changes in aggregate demand. B) A new classical macroeconomist believes that fiscal and monetary policy are required to maintain full employment. C) A Keynesian believes that if taxes are always kept low and the quantity of money is kept on a steady growth path, no policy actions will be needed to maintain full employment. D) A classical macroeconomist believes that maintaining consistently low taxes will allow the economy to expand at an appropriate and rapid pace.
Under the gold standard, the government must have enough gold to back up any
A) change in its currency's exchange rate. B) foreign currency deposits in its central bank. C) increase in money demand. D) increase in the money supply.
Which of the following is correct? A general assumption in real business cycle models is that
a. dissimilar individuals populate the economy. b. the labor market does not clear. c. the economy is populated by a group of identical individuals. d. the economy experiences involuntary unemployment.