When changes to taxes and spending occur in the economy without explicit action by the federal government, such policy is:

The cost of borrowing funds which is stated on a loan is the

A) prime interest rate. B) nominal interest rate. C) real interest rate. D) core PCE interest rate.

Which of the following best represents the consumption function?

A) consumption = autonomous consumption + (the marginal propensity to consume × disposable income) B) consumption = disposable income - (autonomous consumption / the marginal propensity to consume) C) consumption = disposable income × (1 / 1 - the marginal propensity to consume) D) consumption = autonomous consumption + (the marginal propensity to consume × transfer payments) / disposable income