Which of the following policies will NOT shift the Aggregate Expenditure curve upward? Select one: O a. increasing autonomous taxes O b. decreasing autonomous taxes O c. increasing autonomous transfer payments O d. increasing government expenditures on goods and services
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- Problem 1 The various expenditure categories within the economy are: C = 600+ 0.8Yd | = 800 G = 600 NX = 0 T= 700 Refer to problem 1. Equilibrium Real GDP is O 7200 O 4200 O 1800 O 5500During 2019, a country reported that its real GDP increased by $3.0 billion. If the slope of its aggregate planned expenditure curve is 0.9, then which of the following might have led to the increase in real GDP? O a. Investment decreased by $0.3 billion. on O b. Exports increased by $0.3 billion. O c. Exports decreased by $0.3 billion. O d. Imports increased by $0.3 billion. O e. Government expenditure on goods and services increased by $3 billion.Which of the following changes in personal income tax would lead to the smallest increase in consumption? O a. O b. a $15 000 decrease in taxes, if MPC equals 0.6 O c. a $30 000 decrease in taxes, if MPC equals 0.25 Oe. a $20 000 decrease in taxes, if MPC equals 0.5 O d. a $12 000 decrease in taxes, if MPC equals 0.75 a $10 000 decrease in taxes, if MPC equals 0.2
- Based on the following statistics, how much is consumption? Total spending Investment Government spending Exports Imports O-$0.38 trillion O $5.13 trillion O $6.49 trillion O $11.62 trillion $11.62 trillion $2.56 trillion $2.95 trillion $1.80 trillion $2.18 trillionChina's Economy Just Shrank for the First Time in Decades. It Could Still Eke Out Growth This Year China's real GDP decreased 6.8 percent in the first quarter of 2020. Investment decreased by 16 percent and consumer spending by 12.5 percent. Exports decreased 13 percent. Explain how gavemment expenditure minus imports changed in the first quarter of 2020. Government expenditure minus imports O A. decreased by more than 6.8 percent O B. must have increased OC. must have remained constant O D. decreased by less than 6.8 percent or increasedRefer to the table. Equilibrium GDP is: Government Purchases Consumption (after taxes) $-20 Gross Investment Net Exports Real GDP $15 $10 10 $+5 $0 0. +5 15 10 20 10 +5 15 40 40 10 +5 15 70 60 10 +5 15 100 80 10 +5 15 130 100 10 +5 15 160 $40. O $70. O $100. O $130. $160 O O O O O
- Match each definition to the appropriate component of aggregate demand. Definition The sum of the expenditures of business firms on new plant, equipment, and software and of households on new homes The goods and services purchased by all levels of government The total amount spent by consumers on newly produced goods and services The difference between exports and imports ⒸNet exports O Government spending Consumer Expenditure Which of the following components represents the largest piece of aggregate demand? O Consumer expenditure O Investment spending O Which of the following components represents the smallest piece of aggregate demand? O Consumer expenditure O Government spending O Investment spending ONet exports Investment Spending Government Spending Net Exports O O O OSuppose the economy is such that the current GDP is great than potential GDP. If the government does not act, which of the following would we expect to occur? Select one or more: O a. Price levels will decrease Ob. GDP will increase O c. Price levels will increase O d. No effect of GDP e. GDP will decrease O f. No effect on price levelsWhen planned aggregate expenditure is less than real GDP, as in the diagram to the right, what happens to firms' inventories? OA. Inventories fall as firms increase output. O B. Inventories accumulate as firms increase production. O C. Inventories fall if production is not scaled back. O D. Inventories accumulate if production is not scaled back. Real Aggregate Expenditure, AE ($100 billions) 100- 90- 80- 60- 50- 40- 30- 20- 10- 'Y = AE 45° 10 20 30 40 50 60 70 80 90 100 Real GDP, Y ($100 billions)
- In the figure, equilibrium expenditure is equal to Aggregate planned expenditure (trillions of 2012 dollars 30 O A. $15 trillion. 25- O B. $5 trillion. 45-degree line O C. $10 trillion. 20- O D. $20 trillion. AE O E. None of the above answers are correct. 15- 10- 5- 0- 5 10 15 20 25 Real GDP (trillions of 2012 dollars)Which is not a Final Use Component of the Use Table: O a. Household final consumption expenditure O b. Government final consumption expenditure. O c. Depreciation O d. NPISHs final consumption expenditure. An identity of the Supply and Use Table is: Total Output > Total Input O b. Total Supply > Total Use O c. Total Supply < Total Use O d. Total Output = Total Input a.When do net exports of goods and services increase? ... Net exports of goods and services increase when O A. investment increases B. government expenditure on goods and services increases C. exports of goods and services increase and imports of goods and services increase O D. exports of goods and services decrease but imports of goods and services decrease by more than exports dec
