the multiplier is the ratio of the change in real GDP to the change in autonomous expenditure
a. true
b. false
a. true
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A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in the supply of eggs as a result of an outbreak of Avian flu, will result in
A) a decrease in the equilibrium price of eggs and no change in the equilibrium quantity. B) a decrease in the equilibrium price of eggs; the equilibrium quantity may increase or decrease. C) a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease. D) a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.
You have data for compensation of employees, proprietors' income, rental income, and net interest. Can you compute national income?
A) Yes, all of the components of national income are given. B) No, since data on indirect business taxes are missing. C) No, since data on corporate profits is missing. D) No, since data on the capital consumption allowance is missing. E) No, since net interest has not been adjusted for profits.
The Trial Balance:
a. Lists all the company's accounts and ending balances b. Is printed before and after making adjustments c. Verifies the accounting system balances d. All of these
If this is a closed economy, what will the price of a bike be?
A. $20 B. $40 C. $140 D. $100