If the change in y = 10 and the change in x = 3, there is
A) a positive relationship between y and x.
B) a negative relationship between y and x.
C) an independent relationship between y and x.
D) no relationship between y and x.
E) a +0.33 relationship between the two variables.
A
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If you were told the MPC was = 0.75 and the government engaged in a tax decrease of $400B, then the initial change in GDP would be:
A. $300B. B. $400B. C. $1600B. D. $1200B
Exhibit 1A-3 Straight line
Straight line AB in Exhibit 1A-3 is a downward sloping line illustrating:
A. a direct relationship between X and Y. B. an inverse relationship between X and Y. C. X and Y are unrelated variables. D. the ceteris paribus assumption.
The expenditure multiplier measures the change in
A) autonomous spending that results from a change in equilibrium expenditure. B) equilibrium expenditure from a change in induced consumption. C) consumption expenditure for a given change in disposable income. D) equilibrium expenditure that results from a change in autonomous expenditure. E) the price level that results from a change in real GDP.
The above (incomplete) table provides information about the relationships between labor and various product measures. The average product of the fourth unit of labor
A) exceeds the marginal product of the fourth unit of labor. B) is less than the marginal product of the fourth unit of labor. C) is equal to the marginal product of the fourth unit of labor. D) is equal to 4.0.