Use the aggregate expenditures model and assume the marginal propensity to consume (MPC) is 0.80 . A decrease in government spending of $1 billion would result in a decrease in GDP of:

Which of the following is likely to reduce the total efficiency units of labor in an economy?

A) A decrease in the price of capital B) A recession that lowers aggregate demand C) An increase in the price level D) An earthquake that kills several people

During the period following the Revolution,:

a. the populations of the major cities increased dramatically. b. per capita exports decreased slightly for the southern states. c. per capita exports decreased sharply for the southern states. d. on average, per capita exports increased.