ECO 372T Wk 3 - Apply: Quiz
ECO 372T Wk 3 - Apply: Quiz
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ECO 372T Wk 3 - Apply: Quiz
If the MPC in an economy is 0.75 and aggregate expenditures increase by $8 billion, then equilibrium GDP will increase by
Multiple Choice
- $32 billion.
- $2.75 billion.
- $6 billion.
- $40 billion.
Suppose the economy's multiplier is 5. Other things equal, a $40 billion decrease in government expenditures on national defense will cause equilibrium GDP to
Multiple Choice
- decrease by $200 billion.
- decrease by $80 billion.
- increase by $200 billion.
- decrease by $40 billion.
- remain unchanged.
Suppose that an economy produces 500 units of output. It takes 20 units of labor at $15 a unit and 6 units of capital at $50 a unit to produce this amount of output. The per unit cost of production is
Multiple Choice
- $1.20.
- $0.83.
- $2.40.
- $0.60.
If the marginal propensity to save is 0.1 in an economy, a $30 billion rise in investment spending will increase consumption by
Multiple Choice
If a $200 billion increase in investment spending creates $200 billion of new income in the first round of the multiplier process and $180 billion in the second round, the multiplier in the economy is
Multiple Choice
If the MPC is 0.9 and investment increases by $4 billion, the equilibrium GDP will
Multiple Choice
- increase by $40 billion.
- increase by $3.6 billion.
- decrease by $4.44 billion.
- increase by $4.44 billion.
Suppose that a new machine tool having a useful life of only one year costs $80,000. Suppose, also, that the net additional revenue resulting from buying this tool is expected to be $88,000. The expected rate of return on this tool is
Multiple Choice
- 10 percent.
- 90 percent.
- 9 percent.
- 1 percent.
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ECO 372T Wk 3 - Apply: Quiz
If the MPC in an economy is