table for the questions
|
(Trillions of Dollars) |
||||||||
|
Real GDP (Y) |
Net Taxes (NT) |
Dispos -able Income (Y-NT) |
Con- sumption (C) |
Saving (S) |
Planned Invest- ment (I) |
Govern- ment Purchases (G) |
Net Exports (X-M) |
Planned Aggregate Expenditures (C+I+G+(X-M) |
|
5.0 |
1.0 |
4.0 |
3.9 |
0.1 |
1.0 |
1.0 |
-0.7 |
5.2 |
|
5.5 |
1.0 |
4.5 |
4.3 |
0.2 |
1.0 |
1.0 |
-0.7 |
5.6 |
|
6.0 |
1.0 |
5.0 |
4.7 |
0.3 |
1.0 |
1.0 |
-0.7 |
6.0 |
|
6.5 |
1.0 |
5.5 |
5.1 |
0.4 |
1.0 |
1.0 |
-0.7 |
6.4 |
|
7.0 |
1.0 |
6.0 |
5.5 |
0.5 |
1.0 |
1.0 |
-0.7 |
6.8 |
19. In Exhibit 10-2, the equilibrium level of GDP is
|
a. |
$5.0 trillion |
|
b. |
$5.5 trillion |
|
c. |
$6.0 trillion |
|
d. |
$6.5 trillion |
|
e. |
$7.0 trillion |
20. At the equilibrium level of GDP in Exhibit 10-2, injections equal
|
a. |
$1.0 trillion |
|
b. |
$1.5 trillion |
|
c. |
$1.4 trillion |
|
d. |
$1.2 trillion |
|
e. |
$1.3 trillion |
21. At the equilibrium level of GDP in Exhibit 10-2, leakages equal
|
a. |
$1.4 trillion |
|
b. |
$1.3 trillion |
|
c. |
$1.5 trillion |
|
d. |
$1.0 trillion |
|
e. |
$1.1 trillion |
22. At the equilibrium level of GDP in Exhibit 10-2, saving equals
|
a. |
$0.4 trillion |
|
b. |
$0.6 trillion |
|
c. |
$0.5 trillion |
|
d. |
$0.2 trillion |
|
e. |
$0.3 trillion |
23. In equilibrium in Exhibit 10-2, S + NT = I + G + (X - M) and is equal to
|
a. |
$1.1 trillion |
|
b. |
$1.2 trillion |
|
c. |
$1.3 trillion |
|
d. |
$1.4 trillion |
|
e. |
$1.5 trillion |
24. The marginal propensity to consume (MPC) in Exhibit 10-2 equals
|
a. |
0.20 or 1/5 |
|
b. |
0.40 or 2/5 |
|
c. |
0.80 or 4/5 |
|
d. |
0.90 or 9/10 |
|
e. |
0.60 or 3/5 |
25. The marginal propensity to save (MPS) in Exhibit 10-2 equals
|
a. |
0.80 or 4/5 |
|
b. |
0.60 or 3/5 |
|
c. |
0.40 or 2/5 |
|
d. |
0.10 or 1/10 |
|
e. |
0.20 or 1/5 |
26. In Exhibit 10-2, which group of the following is considered autonomous with respect to income?
|
a. |
C, I, (X - M) |
|
b. |
S, I, G, (X - M) |
|
c. |
NT, C, G, (X - M) |
|
d. |
NT, S, I, (X - M) |
|
e. |
I, G, X |
19. In Exhibit 10-2, the equilibrium level of GDP is $6.5 trillion (Planned Aggregate Expenditures (C+I+G+(X-M) = Real GDP
20. At the equilibrium level of GDP in Exhibit 10-2, injections equal $1.3 trillion ( Ig + G + Xn).
21. At the equilibrium level of GDP in Exhibit 10-2, leakages equal 1.3 trillion (S+NT).
22. At the equilibrium level of GDP in Exhibit 10-2, saving equals 0.3 trillion.
23. In equilibrium in Exhibit 10-2, S + NT = I + G + (X - M) and is equal to 1.3 trillion.
24. The marginal propensity to consume (MPC) in Exhibit 10-2 equals MPC = 0.4/0.5 = 0.8
24. The marginal propensity to save (MPS) in Exhibit 10-2 equals 1-MPC = 1-0.8 = 0.2
table for the questions (Trillions of Dollars) Real GDP (Y) Net Taxes (NT) Dispos -able Income...