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Author Question: Assume that a GDP gap can be closed by a 200 initial change in planned spending. The MPS is 0.3 and ... (Read 26 times)

Jramos095

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on: Jun 30, 2018
Assume that a GDP gap can be closed by a 200 initial change in planned spending. The MPS is 0.3 and the MPI equals 0.1 . If the economy is currently in equilibrium with an income level of 600, potential GDP equals:
 a. 1,600.
  b. 1,100.
  c. 800.
  d. 600.
  e. 400.

Question 2

When quantity demanded increases at every possible price, the demand curve
 a. shifts to the left.
 b. shifts to the right.
 c. there is a movement along the given demand curve.
  d. none of the above.


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ergserg

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

b

Answer to Question 2

b


Jramos095

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

bigcheese9

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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