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Author Question: Real income for a given year would be less than nominal income in that year if: a. the consumer ... (Read 93 times)

TVarnum

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on: Jun 30, 2018
Real income for a given year would be less than nominal income in that year if:
 a. the consumer price index was less than 100 in that year.
  b. nominal income in that year was greater than nominal income in the previous year.
  c. nominal income in that year was less than nominal income in the previous year.
  d. the consumer price index was greater than 100 in that year.

Question 2

Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.75, an increase in taxes of 100 billion would be expected to shift the aggregate demand curve by 300 billion to the left.
 a. True
  b. False
  Indicate whether the statement is true or false


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tofugiraffe

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


TVarnum

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Reply 2 on: Jun 30, 2018
Excellent

debra928

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Reply 3 on: Yesterday
Gracias!

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