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6 Written questions

6 Multiple choice questions

  1. What we spend on goods and services.
  2. the ratio of a change in GDP to the initial change in spending. 1/1-MPC or 1/MPS
  3. the change in government expenditures or taxes which occurs automatically as a result of existing laws
  4. an increase in taxes or decrease in government spending or both, so that the net effect on aggregate demand is a decrease in net government spending
  5. Durability
    Irregularity of innovation
    Variability of profits
    Variability of expectations
  6. leftward shift in the AS curve

5 True/False questions

  1. Shifts of the Investment Demand CurveDurability
    Irregularity of innovation
    Variability of profits
    Variability of expectations

          

  2. Marginal Propensity to SaveChange in consumption/Disposable income

          

  3. Average Propensity to ConsumeConsumption/Disposable income

          

  4. 3 reasons for downward slope of AD curveinput prices
    productivity
    legal-institution

          

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