The slope of the aggregate expenditure function is the sum of the:
A) marginal propensity to consume and marginal propensity to save.
B) marginal propensity to consume and marginal propensity to invest.
C) marginal propensity to consume, marginal propensity to save, and marginal propensity to import.
D) marginal propensity to consume, marginal propensity to invest, and marginal propensity to import.
D
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As a currency depreciates:
A) exports increase and imports decrease.
B) exports decrease and imports increase.
C) exports increase and imports increase.
D) exports decrease and imports decrease.
In the above figure, which curve depicts the supply of land for Chicago's "Magnificent Mile"?
A) curve F B) curve G C) curve H D) curve I
Fluctuations around the long-run aggregate supply curve are:
A. experienced as expansions, recessions, and recoveries. B. called the business cycle. C. normal for an economy. D. All of these are true.
If the opportunity cost of producing extra units of one good (expressed in terms of the amount of another good given up) remains constant, then the shape of the production possibilities curve is:
A. A straight horizontal line B. A straight downward-sloping line C. An upward-sloping line D. A vertical line