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All the following are included when calculating GDP using the expenditure approach EXCEPTA) Purchases by consumers of non-durable goodsB) Changes in the value of goods that were produced, but not soldC) Purchases by consumers of shares in the stock marketD) Wages paid by governments to their workersif there is excess demand at a particular price, then we know that the price will:Use the aggregate expenditures model and the following values to answer the next question. Determine the change in the equilibrium real GDP (find ΔY) following a decrease in government spending from 400 to 300 (ΔG = -$100).A) negative $500B) positive $500C) negative $400D) positive $400according to keynesians, a reduction in business investment will have what effect on labor?say's law was first held to be true prior to what major US event?Refer to the diagram of production possibilities. Which of the following is true?A) Point 4 is efficient for a country with curve ABB) Point 1 is efficient for a country with curve ABC) Point 5 is attainable for a country with curve CDD) Point 2 is attainable for a country with curve EFA country sees its GDP change from $22 billion in 2022 to $20 billion in 2023. What was the annual GDP growth rate during that period?A) -22%B) -9%C) 2%D) 9%inflation caused by an increase in aggregate spending isRefer to the table. What is the value of GDP? A) $700 billionB) $800 billionC) $900 billionD) $1.020 trillionAll the following must be true if CPI declines from year 1 to year 2 EXCEPTA) The inflation rate is negative.B) There is deflation.C) The CPI turns negative in year 2.D) The average price level is decreasing.Use the following figures to answer the next question. Refer to the above figures with consumption schedules in figure (A) and saving schedules in figure (B), which correspond to each other across different levels of disposable income. If in figure (A), consumption increases along line A2, then in figure (B) there would be aA) shift from line B2 to B3.B) shift from line B2 to B1.C) movement down along line B2.D) movement up along line B2.If disposable income decreases from $1,800 to $1,500 and the marginal propensity to consume is 0.75, then saving willA) increase by $225.B) decrease by $225.C) increase by $75.D) decrease by $75.when someone quits their job and there is a period of time before the new job is started this is consideredfor keynes, money supply and interest rate are ____________ relatedThe best example of a structurally unemployed worker is one whoA) Cannot find work due to obsolete skillsB) Loses a job due to unfavorable macroeconomic conditionsC) Voluntary switches jobs between the private and public sectorsD) Voluntary switches jobs between firms in the same industrywhat is always true during a depression?Answer the question below based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.If year 2 is the base year, the Consumer Price Index for year 1 isA) 150.B) 100.C) 67.D) 50.Use the following data to answer the next question. The disposable income (DI) and consumption (C) schedules are for a private, closed economy(an economy with no government and no international trade). All figures are in billions of dollars. If disposable income is $550, we would expect consumption to beA) $430.B) $450.C) $460.D) $470.Answer the next question on the basis of the following information about the hypothetical economy of Asland. All figures are in millions.The labor force in Asland isA) 95 million.B) 102 million.C) 105 million.D) 145 million.Answer the next question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.Year - Units of Output - Price per Unit1 8 $2 2 10 3 3 15 4 4 18 5 5 20 6If year 2 is the base year, then real GDP in year 5 is...A) $120B) $90C) $60D) $30
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