If the marginal propensity to consume is 4/5, the multiplier is:
a. 20

The fundamental identity of national income accounting implies ________

A) Expenditure = Production + Income B) Expenditure = Production = Income C) Income = Expenditure - Production D) Income = Expenditure / Production E) None of the above

Expansionary and contractionary gaps are automatically eliminated by shifts in aggregate demand

a. True b. False Indicate whether the statement is true or false