Based on the figure above, in which quarter or quarters did a peak occur?
A) between 2012, 2nd quarter to 2013, 2nd quarter and also between 2014, 2nd quarter to the end of the figure
B) in 2013, 2nd quarter
C) in 2014, 2nd quarter
D) between 2013, 2nd quarter to 2014, 2nd quarter
E) There are no peaks illustrated in the figure.
B
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Refer to Figure 16-1. Suppose the economy is in short-run equilibrium below potential GDP and Congress and the president lower taxes to move the economy back to long-run equilibrium. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to B. B) C to B. C) A to E. D) B to A. E) B to C.
When Javier's income increases by $5,000, he spends an additional $3,750 dollars. This implies that his marginal propensity to consume is 0.75
Indicate whether the statement is true or false