An inflationary gap occurs when aggregate expenditures are too high to achieve full employment

If Barbecue Bob has a right to own and use his backyard barbecue, then Barbecue Bob also enjoys

A) a right to pollute. B) a right to steal. C) a right to free charcoal. D) a right to clean air.

If the MPC = 0.75, a decrease in government spending from $875 billion to $840 billion will decrease real GDP by

A) $26.25 billion. B) $35 billion. C) $46.67 billion. D) $140 billion.