Suppose government purchases increase by $100 million in an economy, which leads to total output increasing by $500 million. The size of the multiplier is _____

The intertemporal tradeoff between present and future consumption is measured by the

A) real interest rate. B) inflation rate. C) nominal interest rate. D) terms of trade. E) rate of economic growth.

Market equilibrium is: a. defined as the condition in which there is neither a shortage or surplus

b. defined as the condition under which the separately formulated plans of buyers and sellers exactly mesh when tested in the market. c. represented graphically by the intersection of the supply and demand curves. d. all of the above.