Top of Form 1. Figure: Aggregate Expenditures I Reference: Ref 11-10 (Figure: Ag
ID: 2507248 • Letter: T
Question
Top of Form
Figure: Aggregate Expenditures I
Reference: Ref 11-10
(Figure: Aggregate Expenditures I) Refer to the figure Aggregate Expenditures I. The equilibrium real GDP is:
A.
$500 billion.
B.
$300 billion.
C.
$700 billion.
D.
$625 billion.
Scenario: Income
Figure: Aggregate Expenditures I
Reference: Ref 11-10
(Figure: Aggregate Expenditures I) Refer to the figure Aggregate Expenditures I. The equilibrium real GDP is:
A.
$500 billion.
B.
$300 billion.
C.
$700 billion.
D.
$625 billion.
Scenario: Income
Explanation / Answer
1-C.$700 billion.
2- C.$900
3-C.the ratio of the change in consumer spending to the change in aggregate disposable income.
4- D.
$6900
5-C.$1,600.
6-A.AE will shift up.
7-A.an increase in consumer wealth.
8-B.0.8.
9-C.5.
10-A.AE will shift up.
11-C.$1,600.
12-C.vertical.
13-D.a total decrease in spending of $400.
14-D.autonomous.
15-B. C = 12,000 + (40,000