If planned autonomous investment is 500, autonomous consumption 300, induced consumption 2500, savings 500, and government spending and taxes zero, then
A) Ep is 3300 and the economy is in equilibrium.
B) Ep is 3300 and the economy is out of equilibrium.
C) Ep is 3500 and the economy is in equilibrium.
D) Ep is 3500 and the economy is out of equilibrium.
C
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An import ban results in
A) an increase in the product's price. B) a decrease in the quantity of the product bought and sold. C) a decrease in the supply of the product. D) all of the above.
Since 1950
A) the average length of expansions in the United States have become longer as compared to before 1950. B) the average length of expansions in the United States are about the same length as compared to before 1950. C) the average length of expansions in the United States have become shorter as compared to before 1950. D) economic expansions in the United States have been so short that expansions barely exist.