Given a national income of $900 billion, an MPC of 0.8, and autonomous consumption of $60 billion, what is the level of consumption spending?
a. $700 billion
b. $760 billion
c. $780 billion
d. $840 billion
e. $900 billion
C
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Which of the following is an objective of macroeconomic stabilization?
(a) eliminating current account deficits. (b) controlling inflation. (c) restoring fiscal balance. (d) all of the above.
Worries about foreign trade in goods and services include fear of job ______, environmental dangers, and unfair labor practices.
a. creation b. loss c. stagnation d. upskilling
Which of these arises when an individual listens to loud music late in the night?
a. An externality b. The free-rider problem c. An asymmetric information problem d. The common-pool problem
If the price a buyer pays for a good is $50 and the maximum price she would be willing and able to pay is $53, then ____________ is _______________
A) producers' surplus; $103 B) consumers' surplus; $103 C) consumers' surplus; $3 D) producers' surplus; $3 E) consumers' surplus; $40