Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. For this society, aggregate saving is ________ if aggregate income is above $200.
A. equal to aggregate consumption
B. zero
C. negative
D. positive
Answer: D
You might also like to view...
Which of the following was an effect of the price ceiling placed on gasoline in the U.S. in the 1970s?
A) Car owners started buying luxury cars that were less fuel-efficient as the price of gas was very low. B) Gas stations ran out of gas as the quantity of gas demanded exceeded the quantity supplied. C) Those who valued gas the most were able to buy gas under the price ceiling. D) The inventory of unsold gas increased and gas stations incurred losses.
In the traditional Keynesian model, if the government cuts taxes, then
A) both consumption and real Gross Domestic Product (GDP) will increase. B) both consumption and real Gross Domestic Product (GDP) will decrease. C) consumption will increase but Gross Domestic Product (GDP) will decrease. D) consumption will decrease but Gross Domestic Product (GDP) will increase.
The change in total revenue due to one unit change in labor usage is called marginal revenue
Indicate whether the statement is true or false
If nominal GDP in 2012 was less than real GDP in 2012, we know for certain that
A) the price level in 2012 was greater than the price level in the base year. B) real GDP in 2012 was greater than real GDP in the base year. C) the price level in 2012 was less than the price level in the base year. D) real GDP in 2012 was less than real GDP in the base year.