Download Macro CH 30 sample questions

Name: ________________________ Class: ___________________ Date: __________
ID: A
Macro CH 30 sample questions
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____
1. During 2008, a country has consumption expenditures of $3.0 trillion, investment expenditures of $1.5
trillion, government expenditures of $1.5 trillion, exports of $1.0 trillion, and imports of $1.5 trillion.
Aggregate expenditure for the country is
a. $5.5 trillion.
b. $6.0 trillion.
c. $7.0 trillion.
d. $8.5 trillion.
e. $6.5 trillion.
____
2. Actual aggregate expenditure is always
a. equal to aggregate planned expenditure.
b. equal to actual real GDP.
c. less than aggregate planned expenditure.
d. greater than aggregate planned expenditure.
e. less than actual real GDP because real GDP includes all spending and actual aggregate
expenditure does not include induced expenditure.
____
3. Aggregate planned expenditure
a. always equals disposable income.
b. always equals actual aggregate expenditure.
c. might not equal disposable income but must equal actual aggregate expenditure.
d. might not equal actual aggregate expenditure.
e. always equals real GDP.
____
4. That portion of a firm's production that is not sold and is stored is called
a. inventory.
b. planned expenditures.
c. unplanned expenditures.
d. multiplied production.
e. postponed expenditure.
____
5. Inventories are best defined as goods that are
a. produced but not yet sold.
b. produced and put on layaway.
c. not yet produced.
d. not for sale.
e. produced only if there is a customer awaiting them.
____
6. Unplanned inventories increase when
a. real GDP is less than aggregate planned expenditure.
b. actual aggregate expenditure is greater than aggregate planned expenditure.
c. actual aggregate expenditure is equal to GDP.
d. aggregate planned expenditure is less than GDP.
e. actual aggregate expenditure is less than GDP.
1
Name: ________________________
ID: A
____
7. If aggregate planned expenditure exceeds real GDP, then
a. inventories are greater than planned.
b. inventories are equivalent to planned inventories.
c. inventories are less than planned.
d. the economy is entering a recession.
e. actual aggregate expenditure exceeds real GDP.
____
8. During 2008, a country reports aggregate planned expenditures of $5 trillion and an actual real GDP of $4
trillion. During 2008,
a. inventories are less than planned.
b. inventories are greater than planned.
c. inventories are unaffected.
d. actual aggregate expenditures are greater than real GDP.
e. actual aggregate expenditures are less than real GDP.
____
9. If firms' inventories exceed their planned inventories, firms
a. increase production.
b. decrease production.
c. increase GDP.
d. increase income.
e. increase employment.
____ 10. If aggregate planned expenditure equals GDP, then
a. there must be no change in firms' inventories.
b. the change in firms' inventories must be positive.
c. the change in firms' inventories must be equal to the planned change.
d. the change in firms' inventories must be negative.
e. actual aggregate expenditure might be greater than, equal to, or less than real GDP.
____ 11. If actual aggregate expenditure equals aggregate planned expenditure, then
a. there is never any change in firms' inventories.
b. unplanned inventory changes are positive.
c. firms obtain the desired change in their inventories.
d. unplanned inventory changes are negative.
e. actual aggregate expenditure might be greater than, equal to, or less than real GDP.
____ 12. Induced expenditures are defined as that part of
a. aggregate expenditure that responds to changes in real GDP.
b. real GDP that does not respond to changes in aggregate expenditure.
c. aggregate expenditure that does not respond to changes in real GDP.
d. autonomous expenditure that responds to changes in real GDP.
e. autonomous expenditure that does not respond to changes in real GDP.
____ 13. The components of aggregate expenditure that make up the largest share of induced expenditure are
a. consumption and imports.
b. consumption and exports.
c. imports and exports.
d. investment and government expenditures on goods and services.
e. consumption and government expenditures on goods and services.
2
Name: ________________________
ID: A
____ 14. Induced expenditure includes
a. consumption expenditures, government expenditures on goods and services, and imports.
b. investment, consumption expenditures, and exports.
c. consumption expenditures and imports.
d. consumption expenditures and exports.
e. consumption expenditures and government expenditures on goods and services.
____ 15. Which components of aggregate expenditure change as a result of real GDP changing?
a. consumption expenditure and imports
b. consumption expenditure and investment
c. consumption expenditure, investment, and exports
d. consumption expenditure, investment, and government expenditures on goods and
services
e. consumption expenditure and government expenditures on goods and services
____ 16. The consumption function shows the relationship between
a. disposable income and saving.
b. consumption expenditure and saving.
c. disposable income and consumption expenditure.
d. disposable income and income.
e. induced consumption expenditure and autonomous consumption expenditure.
____ 17. The relationship between disposable income and consumption is
a. positive.
b. negative.
c. nonexistent.
d. U-shaped.
e. not stable because it depends on whether the economy is in equilibrium or not.
____ 18. A figure depicting the consumption function shows that the consumption function
a. is parallel to the 45° line.
b. is always above the 45° line.
c. is always below the 45° line.
d. starts below and then crosses to above the 45° line.
e. starts above and then crosses to below the 45° line.
____ 19. The amount of consumption expenditure that occurs when disposable income is zero is called
a. welfare.
b. dependent consumption.
c. minimum consumption.
d. autonomous consumption.
e. base-line consumption.
____ 20. The level of autonomous consumption
a. increases when current disposable income increases.
b. decreases when current disposable income increases.
c. does not change when current disposable income increases.
d. can never change.
e. is the amount of consumption expenditure that would take place even if people had no
income.
3
Name: ________________________
ID: A
____ 21. In the range of disposable income where the consumption function lies above the
45° line,
a. disposable income is negative.
b. saving is negative.
c. saving is positive.
d. disposable income equals planned expenditures.
e. induced consumption is zero.
____ 22. The slope of the consumption function is
a. equal to the MPC and is less than 1.
b. equal to the MPC and is greater than 1.
c. equal to the MPC and is equal to 1.
d. not equal to the MPC and is equal to 1.
e. not equal to the MPC and is less than 1.
____ 23. The above table has data from the nation of Atlantica. Based on these data, autonomous consumption is
a. $1.8 trillion.
b. $2.6 trillion.
c. $3.2 trillion.
d. $4.0 trillion.
e. $5.8 trillion.
____ 24. The above table has data from the nation of Atlantica. Based on these data, when disposal income equals $3.0
trillion,
a. savings equals $4.0 trillion.
b. savings equals $1. trillion.
c. dissavings equals $4.0 trillion.
d. dissavings equals $1.0 trillion.
e. savings equals $3.0 trillion.
4
Name: ________________________
ID: A
____ 25. In the figure above, when disposable income equals $8 trillion,
a. consumption expenditure is greater than disposable income, so consumers are dissaving.
b. consumption expenditure is less than disposable income, so consumers are dissaving.
c. consumption expenditure is greater than disposable income, so consumers are saving.
d. consumption expenditure is less than disposable income, so consumers are saving.
e. consumption expenditure is less than disposable income but it is not possible to
determine if consumers are saving or dissaving.
____ 26. The fraction of a change in disposable income that is spent on consumption is the
a. marginal propensity to consume.
b. marginal buying power of money.
c. expected future disposable income.
d. marginal dissaving ratio.
e. marginal propensity to dissave.
____ 27. The MPC is equal to the
a. change in consumption expenditure divided by the change in disposable income that
brought it about.
b. change in consumption expenditure divided by the total disposable income that brought it
about.
c. level of consumption expenditure divided by the level of total disposable income that
brought it about.
d. level of consumption divided by the change in disposable income that brought it about.
e. change in disposable income divided by the change in consumption expenditure.
____ 28. The marginal propensity to consume is equal to
a. consumption expenditure divided by the disposable income that brought it about.
b. disposable income divided by the consumption expenditure that brought it about.
c. the change in disposable income divided by the change in consumption expenditure that
brought it about.
d. the change in consumption expenditure divided by the change in disposable income that
brought it about.
e. the change in consumption expenditure divided by the disposable income that brought it
about.
5
Name: ________________________
ID: A
____ 29. Jack Nelson, a supervisor in the hardware department at Sears, received a $3,000 increase in his annual
disposable income. Suppose his marginal propensity to consume is 0.80. How much of the $3,000 increase
will Jack spend on consumption?
a. $2,750
b. $2,500
c. $2,400
d. $2,200
e. $3,000.
____ 30. The above table has data from the nation of Media. Based on these data, when disposable income is $8.0
trillion, saving is
a. –$0.5 trillion.
b. –$1.5 trillion.
c. $0.5 trillion.
d. $1.5 trillion.
e. $7.5 trillion.
____ 31. When the real interest rate falls, the consumption function
a. shifts upward.
b. does not shift and there is no movement along the consumption function.
c. shifts downward.
d. does not shift and there is a movement upward along the consumption function.
e. does not shift and there is a movement downward along the consumption function.
____ 32. If the real interest rate increases, there is
a. a movement upward along the consumption function.
b. a movement downward along consumption function.
c. an upward shift of the consumption function.
d. a downward shift of the consumption function.
e. a change in the slope of the consumption function.
____ 33. In Germany, expected future income increased during 2007. This increase lead to
a. a movement upward along the consumption function.
b. a movement downward along the consumption function.
c. an upward shift of the consumption function.
d. a downward shift of the consumption function.
e. no movement along the consumption function and no shift of the consumption function.
6
Name: ________________________
ID: A
____ 34. When U.S. real GDP increases, U.S. imports
a. decrease by the same amount.
b. increase by the same amount.
c. increase by less than the change in real GDP.
d. decrease by less than the change in real GDP.
e. increase by more than the change in real GDP.
____ 35. As real U.S. GDP increases, U.S. income increases and so
a. U.S. imports decrease.
b. U.S. exports decrease.
c. U.S. imports increase.
d. U.S. exports increase.
e. investment increases.
____ 36. Looking at the U.S. consumption function from 1960 to 2005, we see that
a. the consumption function has steadily shifted downward.
b. the economy has remained on the same consumption function.
c. rising expected future income shifted the consumption function upward during the 1990s.
d. consumption has remained constant while disposable income has risen during this period.
e. a fall in the purchasing power of net assets shifted the consumption function downward
during the 1990s.
____ 37. During the 1990s, a major effect on the U.S. consumption function was the
a. decline in the stock market that led to an increase in autonomous consumption
expenditure.
b. increase in the stock market that led to an increase in autonomous consumption
expenditure.
c. decline in the real interest rate that led to an increase in autonomous consumption
expenditure.
d. increase in the buying power of money that led to a decrease in autonomous consumption
expenditure.
e. increase in the buying power of money that led to an increase in induced consumption
expenditure.
____ 38. The U.S. consumption function shifted upward in the 1990s because
a. disposable income increased.
b. the buying power of money increased.
c. the real interest rate rose.
d. expected future income rose.
e. expected future income fell.
7
Name: ________________________
ID: A
____ 39. The above table presents data from the nation of Pacifica. When real GDP equals $2.0 trillion, aggregate
planned expenditure equals
a. $3.75 trillion.
b. $5.00 trillion.
c. $5.50 trillion.
d. $6.00 trillion.
e. $4.00 trillion.
____ 40. In the aggregate expenditure (AE) model, the economy is driven to its equilibrium by changes in
a. government expenditures on goods and services that are the result of changes in real
GDP.
b. induced expenditures that are the result of changes in real GDP.
c. investment that are the result of changes in real GDP.
d. autonomous expenditures that are the result of changes in real GDP.
e. net taxes that are the result of changes in real GDP.
____ 41. A country reports that when real GDP is $3.0 trillion, aggregate planned expenditure is $4.0 trillion. When
real GDP equals $3.0 trillion,
a. unplanned inventory changes by –$1.0 trillion.
b. unplanned inventory changes by $1.0 trillion.
c. planned inventory changes by $1.0 trillion.
d. planned inventory changes by –$1.0 trillion.
e. both planned and unplanned inventory changes are –$1.0 trillion.
____ 42. When the change in unplanned inventories is positive, then
a. real GDP is less than aggregate planned expenditure.
b. real GDP equals aggregate planned expenditure.
c. real GDP is larger than aggregate planned expenditure.
d. economic growth will occur as the economy returns to equilibrium.
e. planned inventories will increase in order to return to equilibrium.
____ 43. Which of the following situations leads to an unplanned increase in inventories of $2.0 trillion?
a. real GDP = $5.0 trillion and aggregate planned expenditures = $7.0 trillion
b. real GDP = $5.0 trillion and aggregate planned expenditures = $5.0 trillion
c. real GDP = $6.0 trillion and aggregate planned expenditures = $4.0 trillion
d. real GDP = $8.0 trillion and aggregate planned expenditures = $5.0 trillion
e. More information is needed about planned investment and actual investment.
8
Name: ________________________
ID: A
____ 44. If real GDP exceeds aggregate planned expenditure, then the change in unplanned inventories is ____ and
firms ____ production.
a. positive; increase
b. positive; decrease
c. negative; increase
d. negative; decrease
e. zero; do not change
____ 45. Real GDP is $5 trillion and aggregate planned expenditure is $7 trillion. As a result, unplanned inventory
change is ____ and real GDP ____.
a. positive; decreases
b. positive; increases
c. negative; increases
d. negative; decreases
e. negative; does not change
____ 46. When aggregate planned expenditure exceeds real GDP,
a. firms increase production and real GDP increases.
b. firms decrease production and real GDP increases.
c. firms decrease production and real GDP decreases.
d. firms increase production and real GDP decreases.
e. firms do nothing because induced expenditure will increase so that the equilibrium is
reached.
____ 47. Which of the following situations lead firms to increase production?
a. real GDP = $6.0 trillion and aggregate planned expenditures = $5.0 trillion
b. real GDP = $2.0 trillion and aggregate planned expenditures = $2.0 trillion
c. real GDP = $10 trillion and aggregate planned expenditures = $9 trillion
d. real GDP = $5.0 trillion and aggregate planned expenditures = $6.0 trillion
e. Both answers A and C are correct.
____ 48. In the aggregate expenditure (AE) model, when real GDP exceeds aggregate planned expenditure, actual
inventories ____ planned inventories and real GDP ____.
a. exceed; increases
b. exceed; decreases
c. are less than; increases
d. are less than; decreases
e. exceed; does not change
____ 49. Equilibrium expenditure is the level of aggregate expenditure when
a. aggregate production equals real GDP.
b. aggregate actual expenditure equals real GDP.
c. aggregate planned expenditure equals real GDP.
d. aggregate private expenditure equals real GDP.
e. planned inventory investment equals zero.
9
Name: ________________________
ID: A
____ 50. Points where the aggregate expenditure (AE) curve lie above the 45° line are points where aggregate planned
expenditure is
a. greater than real GDP.
b. less than real GDP.
c. equal to real GDP.
d. the inverse of real GDP.
e. not related to real GDP.
____ 51. Moving along the aggregate expenditure (AE) curve, when real GDP increases, aggregate planned
expenditures increase
a. by more than real GDP.
b. by the same amount as does real GDP.
c. by less than real GDP.
d. proportionately with real GDP.
e. by the same percentage as does real GDP.
____ 52. The above table gives data for the nation of Mojo. At what level of real GDP is the unplanned inventory
change equal to $1.75 trillion?
a. $3.0 trillion
b. $6.0 trillion
c. $9.0 trillion
d. $12.0 trillion
e. $0.0 trillion.
10
Name: ________________________
ID: A
____ 53. The table above gives data for the nation of Mosh. The MPC of the economy is
a. indeterminate with the information provided.
b. 1.
c. .75.
d. .80.
e. .90.
____ 54. The table above gives data for the nation of Mosh. The amount of autonomous expenditure is
a. not shown in this table.
b. $4 trillion.
c. $1.5 trillion.
d. $4.5 trillion.
e. $9.0 trillion.
____ 55. The table above gives data for the nation of Mosh. If real GDP is $6 trillion, then
a. firms decrease production because inventories exceed their target levels.
b. firms increase production because inventories are less than their target levels.
c. the economy has reached equilibrium and no change in production will occur.
d. firms increase production because inventories exceed their target levels.
e. we need more information to determine whether firms increase, decrease, or do not
change their production.
____ 56. The table above gives data for the nation of Mosh. In Mosh, equilibrium expenditure equals
a. $4 trillion.
b. $6 trillion.
c. $9 trillion.
d. $7 trillion.
e. $10 trillion.
11
Name: ________________________
ID: A
____ 57. The table above gives data for the nation of Mosh. If we graphed these data, we would see that when GDP
equals
a. $6 trillion, the AE curve is below the 45° line.
b. $10 trillion, the 45° line is above the AE curve.
c. $9 trillion, the AE curve intersects the 45° line.
d. $4 trillion, the AE curve intersects the 45° line.
e. $10 trillion, the AE curve intersects the 45° line.
____ 58. In the figure above, if real GDP is $12 trillion, aggregate planned expenditure is ____ $12 trillion and
unplanned inventory changes are ____.
a. less than; positive
b. equal to; equals to zero
c. less than; negative
d. equal to; negative
e. equal to; positive
____ 59. In the figure above, if real GDP is $6 trillion, aggregate planned expenditure is
a. less than $6 trillion and unplanned inventory changes are positive.
b. equal to $6 trillion and there are no unplanned inventory changes.
c. more than $6 trillion and unplanned inventory changes are negative.
d. equal to $6 trillion and unplanned inventory changes are negative.
e. equal to $6 trillion and unplanned inventory changes are positive.
____ 60. The expenditure multiplier explains how a change in
a. real GDP leads to a change in autonomous expenditure.
b. induced expenditure leads to a change in real GDP.
c. autonomous expenditure leads to a change in real GDP.
d. real GDP leads to a change in induced expenditure.
e. induced expenditure leads to a change in autonomous expenditure.
12
Name: ________________________
ID: A
____ 61. In an economy with no income taxes or imports, the expenditure multiplier is
a. less than 1 if the MPC is less than 1.
b. greater than 1 if the MPC is greater than 1.
c. equal to 1 if the MPC is greater than 1.
d. greater than 1 if the MPC is less than 1.
e. always less than 1 no matter what the size of the MPC.
____ 62. An economy has no imports or income taxes. The MPC is 0.75 and real GDP is $120 billion. Businesses
increase investment by $4 billion. The expenditure multiplier is ____ and the change in real GDP from the
increase in investment is ____ billion.
a. 5; $25
b. 4; $16
c. 5; $16
d. 4; $25
e. 0.75; $3
____ 63. If autonomous spending increases by $500 billion and, as a result, equilibrium real GDP increases by $2
trillion, then we know that the
a. MPC is greater than 1.
b. expenditure multiplier is 0.25.
c. expenditure multiplier is 4.0.
d. MPC equals 1.
e. expenditure multiplier is 2.0.
____ 64. An economy has no imports or income taxes. An increase in autonomous expenditure of $40 billion increases
equilibrium expenditure by $160 billion. The expenditure multiplier equals
a. 2.
b. 4.
c. 6.
d. 8.
e. 16.
____ 65. In an economy with no income taxes or imports, if the MPC is .75, the expenditure multiplier is
a. 0.25.
b. 0.33.
c. 0.50.
d. 4.00.
e. 3.00.
____ 66. Which of the following affects the magnitude of the expenditure multiplier?
i.
marginal propensity to consume
ii. marginal propensity to invest
iii. marginal tax rate
a.
b.
c.
d.
e.
i only.
ii only.
iii only.
i and iii.
i, ii, and iii.
13
Name: ________________________
ID: A
____ 67. The value of the expenditure multiplier changes if the ____ changes.
i.
marginal tax rate
ii. marginal propensity to import
iii. marginal propensity to consume
a.
b.
c.
d.
e.
i only.
ii only.
iii only.
i and iii.
i, ii, and iii.
____ 68. Which of the following reduces the magnitude of the expenditure multiplier?
a. higher marginal tax rates
b. decrease in imports
c. decrease in saving
d. decrease in government purchases of goods and services
e. decrease in the marginal propensity to consume.
____ 69. Compared to the magnitude of the expenditure multiplier in an economy without imports, the expenditure
multiplier in an identical economy with imports is
a. always smaller.
b. always larger.
c. smaller only if imports exceed exports.
d. larger only if exports exceed imports.
e. exactly the same.
____ 70. If the expenditure multiplier is 5, the slope of the aggregate expenditure (AE) curve is
a. 0.5.
b. 0.6.
c. 0.7.
d. 0.8.
e. 0.2.
____ 71. During 2008, exports increase from $1.0 trillion to $1.5 trillion. If the slope of the aggregate planned
expenditure (AE) curve is 0.75, real GDP increases by
a. $1.0 trillion.
b. $2.0 trillion.
c. $4.0 trillion.
d. $6.0 trillion.
e. $8.0 trillion.
____ 72. During 2008, 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 lead to the increase in real GDP?
a. exports decreased by $0.3 billion
b. exports increased by $0.3 billion
c. imports increased by $0.3 billion
d. government expenditure on goods and services increased by $3 billion
e. investment decreased by $0.3 billion
14
Name: ________________________
ID: A
____ 73. During the start of an expansion, aggregate planned expenditure
a. increases the magnitude of the expenditure multiplier.
b. decreases the magnitude of the expenditure multiplier.
c. exceeds real GDP.
d. is less than real GDP.
e. is slowly decreasing.
____ 74. ____ can trigger a recession.
a. An increase in autonomous expenditure
b. A decrease in autonomous expenditure
c. Equality between aggregate expenditure and real GDP
d. An increase in the expenditure multiplier
e. An increase in induced expenditure
____ 75. An insight into business cycles is gained by the fact that
a. at a peak, autonomous expenditure increases, thereby leading to a recession.
b. at a trough, induced expenditure decreases, thereby leading to an expansion.
c. at a peak, a decrease in autonomous expenditure leads to a decrease in induced
expenditure.
d. changes in real GDP result in changes in autonomous expenditures.
e. autonomous expenditure does not change at either a peak or a trough.
____ 76. An increase in the price level shifts AE curve
a. upward and shifts the AD curve leftward.
b. upward and shifts the AD curve rightward.
c. downward and does not shift the AD curve.
d. downward and shifts the AD curve leftward.
e. downward and shifts the AD curve rightward.
____ 77. A change in the price level ____ the AE curve and ____ the AD curve.
a. shifts; shifts
b. shifts; results in a movement along
c. results in a movement along; shifts
d. results in a movement along; results in a movement along
e. has no effect on; results in a movement along
____ 78. Which of the following statements is true?
a. The AD curve shows the relationship between the aggregate planned expenditure and real
GDP.
b. The AD curve shows the relationship between the price level and the quantity of real
GDP demanded.
c. The AE curve shows the relationship between the price level and real GDP.
d. The AE curve shows the relationship between the price level and quantity of real GDP
demanded.
e. The AD curve shows the relationship between the AE curve and real GDP.
15
Name: ________________________
ID: A
____ 79. The aggregate expenditure model predicts a business cycle expansion occurs when
a. autonomous expenditure increases.
b. aggregate supply increases.
c. potential GDP increases.
d. induced expenditure decreases.
e. the aggregate planned expenditure curve shifts downward.
____ 80. In the midst of the Great Depression, President Roosevelt in a radio address to the nation encouraged
everyone to "spend ourselves into prosperity." His advice reflected
a. Say's Law.
b. the expenditure multiplier effect.
c. his view that there should be no saving and no dissaving.
d. the difference between actual aggregate expenditure and planned aggregate expenditure.
e. his view that induced expenditure was less important than autonomous expenditure.
16
ID: A
Macro CH 30 sample questions
Answer Section
MULTIPLE CHOICE
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Level 2: Using definitions
Aggregate expenditure
Level 2: Using definitions
Actual aggregate expenditure
Level 2: Using definitions
Aggregate planned expenditure and GDP
Level 1: Definition
Inventory
Level 1: Definition
Inventory
Level 2: Using definitions
Unplanned inventories
Level 1: Definition
Unplanned inventories
Level 2: Using definitions
Unplanned inventories
Level 1: Definition
Unplanned inventories
Level 2: Using definitions
Unplanned inventories
Level 2: Using definitions
Unplanned inventories
Level 1: Definition
Induced expenditure
Level 2: Using definitions
Induced expenditure
Level 1: Definition
Induced expenditure
Level 1: Definition
Induced expenditure
Level 1: Definition
Consumption function
Level 1: Definition
Consumption function
Level 2: Using definitions
Consumption function
Level 2: Using definitions
Consumption function | Autonomous consumption
Level 1: Definition
Consumption function | Autonomous consumption
Level 1: Definition
Consumption function | Saving
ID: A
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A
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Consumption function | Slope
A
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Autonomous consumption
D
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Consumption function | Saving
D
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Consumption function | Saving
A
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
TOP: Marginal propensity to consume
A
PTS: 1
DIF: Level 1: Definition
Checkpoint 30.1
TOP: Marginal propensity to consume
D
PTS: 1
DIF: Level 1: Definition
Checkpoint 30.1
TOP: Marginal propensity to consume
C
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Marginal propensity to consume
C
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Consumption function | Saving
A
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.1
TOP: Consumption function | Real interest rate
D
PTS: 1
DIF: Level 1: Definition
Checkpoint 30.1
TOP: Consumption function | Real interest rate
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
TOP: Consumption function | Expected future income
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
TOP: Imports
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
TOP: Imports
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
Eye on the U.S. economy | The U.S. consumption function
B
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
Eye on the U.S. economy | The U.S. consumption function
D
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.1
Eye on the U.S. economy | The U.S. consumption function
B
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.2
TOP: Aggregate planned expenditure
B
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.2
TOP: Adjustment to equilibrium expenditure | Process
A
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.2
TOP: Adjustment to equilibrium expenditure | Inventories
C
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.2
TOP: Adjustment to equilibrium expenditure | Inventories
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.2
TOP: Adjustment to equilibrium expenditure | Inventories
2
ID: A
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B
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
A
PTS:
Checkpoint 30.2
D
PTS:
Checkpoint 30.2
B
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
A
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
D
PTS:
Checkpoint 30.2
B
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
A
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.2
C
PTS:
Checkpoint 30.3
D
PTS:
Checkpoint 30.3
B
PTS:
Checkpoint 30.3
C
PTS:
Checkpoint 30.3
B
PTS:
Checkpoint 30.3
D
PTS:
Checkpoint 30.3
D
PTS:
Checkpoint 30.3
E
PTS:
Checkpoint 30.3
1
1
1
1
1
1
1
1
1
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1
1
1
1
1
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1
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3
Level 3: Using models
Adjustment to equilibrium expenditure
Level 3: Using models
Adjustment to equilibrium expenditure
Level 2: Using definitions
Adjustment to equilibrium expenditure
Level 1: Definition
Adjustment to equilibrium expenditure
Level 3: Using models
Adjustment to equilibrium expenditure
Level 1: Definition
Equilibrium expenditure
Level 1: Definition
AE model
Level 1: Definition
AE model
Level 4: Applying models
Adjustment to equilibrium expenditure
Level 4: Applying models
Marginal propensity to consume
Level 4: Applying models
Autonomous expenditure
Level 4: Applying models
Adjustment to equilibrium expenditure
Level 4: Applying models
Equilibrium expenditure
Level 4: Applying models
Equilibrium expenditure
Level 3: Using models
Adjustment to equilibrium expenditure
Level 3: Using models
Adjustment to equilibrium expenditure
Level 1: Definition
Multiplier
Level 2: Using definitions
Multiplier
Level 3: Using models
Multiplier
Level 4: Applying models
Multiplier
Level 3: Using models
Multiplier
Level 3: Using models
Multiplier
Level 2: Using definitions
Multiplier, income taxes, and imports
Level 2: Using definitions
Multiplier, income taxes, and imports
ID: A
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A
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.3
TOP: Multiplier and income taxes
A
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.3
TOP: Multiplier and imports
D
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.3
TOP: Multiplier and the AE curve
B
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.3
TOP: Multiplier and the AE curve
B
PTS: 1
DIF: Level 4: Applying models
Checkpoint 30.3
TOP: Multiplier and the AE curve
C
PTS: 1
DIF: Level 4: Applying models
Checkpoint 30.3
TOP: Business cycles
B
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.3
TOP: Business cycles
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.3
TOP: Business cycles
C
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.4
TOP: Aggregate expenditure curve
B
PTS: 1
DIF: Level 2: Using definitions
Checkpoint 30.4
Aggregate expenditure | Aggregate demand and the price level
B
PTS: 1
DIF: Level 3: Using models
Checkpoint 30.4
TOP: Aggregate demand curve
A
PTS: 1
DIF: Level 4: Applying models
Integrative
TOP: Integrative
B
PTS: 1
DIF: Level 5: Critical thinking
Integrative
TOP: Integrative
4