If $30 billion in new investment was added to the economy and MPC was 0.90, real GDP would increase by:
a. $30 billion.
b. $90 billion.
c. $100 billion.
d. $210 billion.
e. $300 billion.
e
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The consumption function is the relationship between consumption and
A. disposable income. B. total spending. C. investment. D. planned aggregate expenditure.
The deadweight loss from a monopoly loss measures the inefficiency created by monopoly
Indicate whether the statement is true or false
Draw the demand curve for a good whose price elasticity of demand is equal to infinity. Be sure to label both axes.
What will be an ideal response?
One reason earnings tend to fall before retirement age is that
A. people are retiring earlier. B. firms discriminate against older workers. C. people tend to reduce the number of hours they work after age 50. D. the experience of people is no longer valuable after they are 50 or 55.