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- Which of the following is INCORRECT? a. The multiplier dampens the increase in income that occurs during expansions and brings the economy to a new equilibrium GDP. O b. Firms experience unplanned decreases in inventories as expansions begin. C. Firms increase production in response to unplanned decreases in inventories. O d. Expansions usually begin with an increase in autonomous spending.Which of the following is an injection in the circular flow of income? O Investment O Taxes Imports O Consumption 35In the GDP equation, business spending is referred to as: O Consumption Investment O Government O Net Exports
- 25 1 Calculate the equilibrium level of investment if you have the following equations: C=0.4Yd+20, national income is 1000, government expenditures is 200, tax is 50 Investment =300 O Investment-D350 O Investment3D400 O Investment3D450 O None of the above OMatch each definition to the appropriate component of aggregate demand. Definition The sum of the expenditures of business firms on new plant, equipment, and software and of households on new homes The goods and services purchased by all levels of government The total amount spent by consumers on newly produced goods and services The difference between exports and imports ⒸNet exports O Government spending Consumer Expenditure Which of the following components represents the largest piece of aggregate demand? O Consumer expenditure O Investment spending O Which of the following components represents the smallest piece of aggregate demand? O Consumer expenditure O Government spending O Investment spending ONet exports Investment Spending Government Spending Net Exports O O O OWhich one of the following statements about consumption spending is incorrect? A. Spending on non-durable goods such as food is the most stable component of consumption spending. B. Spending on durable goods is the most erratic or volatile component of consumption spending. O C. Consumption spending is determined largely by total income in the economy. O D. Part of consumption spending consists of spending on services. E. There is a strong inverse relationship between consumption spending and total income in the economy
- Suppose a US-owned firm in Canada imported $1000 worth goods from China in 2018. This company ended up selling only $800 of the imported goads to domestic final users. Which of the following would occur from these transactions for the 2018 GDP expenditure side?? Select one or more: O NX, falls by $800. O G, goes up by $1000 O X, goes down by $1000 O C, goes up by $800 O rises by $200 IM, goes up by $1000.ADVANCED ANALYSIS Suppose that the linear equation for consumption in a hypothetical economy is: C= 60 + 0.7Y Also suppose that income (Y) is $600. Determine the following values: Instructions: For parts a, b, d, and f, round your answers to 2 decimal places. For parts cand e, enter your answers as whole numbers. a. MPC = b. MPS =A Moving to another question will save this response. estion 14 When C lg = GDP in a private closed economy, S= lg and there are no unplanned changes in inventories O A. true. O B, false. >A Moving to another question will save this response.
- Which of the following would not increase consumption spending? O Decreased disposable income. Increased household wealth O A lower interest rate O Expectations of greater future income. Given the condition for equilibrium national income Y = E, and the expenditure equation E=C, where C= Co + by: (a) Describe the constants Co and b. Are there any restrictions on the range of values which b can assume? (b) Find an expression for the equilibrium level of income (the reduced form). (c) Deduce how the equilibrium level of income changes as: (i) b increases. (ii) b decreases.Which curve is drawn at 45 degree to show income and consumption relationship? O a. Y=C O b. Y=S O c. S=Y-C O d. C= a+ By
