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6 Written questions

6 Multiple choice questions

  1. Operating costs
    Business taxes
    Technological changes
    Stock of capital goods
    Planned inventory changes
    Expectations
  2. Spend less, GDP will go down
    Spend more, GDP will go up
  3. the ratio of a change in GDP to the initial change in spending. 1/1-MPC or 1/MPS
  4. Savings/Disposable income
  5. Change in consumption/Disposable income
  6. increases in government spending or decreases in taxes or both, so that the net effect on aggregate demand is an increase in net government spending

5 True/False questions

  1. Marginal Propensity to SaveChange in consumption/Disposable income

          

  2. nondiscretionary or built-in stabilization policydeliberate manipulation of taxes and government spending by the Congress to alter real domestic output and employment, to control inflation, and to stimulate economic growth during a particular period of time

          

  3. Cost-push inflationleftward shift in the AS curve

          

  4. Causes of shifts in the consumption curveOperating costs
    Business taxes
    Technological changes
    Stock of capital goods
    Planned inventory changes
    Expectations

          

  5. Average Propensity to ConsumeSavings/Disposable income

          

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