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6 Written questions

6 Multiple choice questions

  1. the ratio of a change in GDP to the initial change in spending. 1/1-MPC or 1/MPS
  2. Savings/Disposable income
  3. Spend less, GDP will go down
    Spend more, GDP will go up
  4. input prices
    productivity
    legal-institution
  5. What we spend on goods and services.
  6. Consumption/Disposable income

5 True/False questions

  1. 3 reasons for downward slope of AD curvereal-balances effect
    interest rate effect
    foreign purchases effect

          

  2. Instability of investmentthe ratio of a change in GDP to the initial change in spending. 1/1-MPC or 1/MPS

          

  3. nondiscretionary or built-in stabilization policythe change in government expenditures or taxes which occurs automatically as a result of existing laws

          

  4. discretionary fiscal 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

          

  5. Contractionary fiscal 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