Which of the following equations is correct for an economy that does not have a government or a foreign sector? Multiple Choice MPC × MPS = 1 MPC/MPS = 1 MPC - MPS = 1 MPC + MPS = 1
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Which of the following equations is correct for an economy that does not have a government or a foreign sector?
-
MPC × MPS = 1
-
MPC/MPS = 1
-
MPC - MPS = 1
-
MPC + MPS = 1
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Solved in 2 steps
- What effect will each of the changes listed in Study Question 3 of Chapter 27 have on the equilibrium level of GDP in the private closed economy? Explain your answers.Assuming the level of investment is $16 billion and independent of the level of total output, complete the accompanying table and determine the equilibrium levels of output and employment in this private closed economy. What are the sizes of the MPC and MPS?Economists often argue that a large increase in government purchases – such as for the military – will crowd out private-sector spending. Use the investment-saving diagram to defend or to refute their premise.
- The simple aggregate expenditures model discussed in this chapter concluded The simple aggregate expenditures model discussed in this chapter concluded that one form of spending was just as good as any other; increases in all types of spending lead to equal increases in income. Is there any reason to suspect that private investment might be better for the economy than government spending? The simple aggregate expenditures model discussed in this chapter concludedYou are given the following information about a closed economy with no government: Consumption = 115 + 0.6Y Investment = 550 Calculate the value of autonomous spending.In a private closed economy where MPC = 0.90, if consumers reduce their spending by $5 billion and firms cut investments by $4 billion, then equilibrium GDP will decrease by
- If a $100 billion increase in government spending results in a $500 billion increase in real GDP, then the value of the multiplier:answer True or false Classical Economists say that:GDP = Consumption + Investment -and-GDP = Consumption + Savings True FalseIf the MPC in an economy is 0.90, a $4 billion increase in government spending will ultimately increase real GDP by
- The higher government expenditures, the: Select one alternative: Level of government expenditures does not affect the level of investment multiplicator Lower investment multiplicator Higher investment multiplicatorYou are given the following information about a closed economy with no government:Consumption = 445 + 0.75Y Investment = 250 Calculate the value of autonomous spending.US Real GDP fell by 9 percent during the 2nd quarter of 2020. Real investment spending fell by 16.9 percent during Q2 of 2020, and investment spending makes up about 20 percent of GDP. How much did the decline in investment spending contribute to the decline in real GDP in the US during Q2 of 2020?
