The components of aggregate expenditure that are not influenced by GDP are known as
A) fixed expenditure.
B) induced expenditure.
C) planned expenditure.
D) unplanned expenditure.
E) autonomous expenditure.
E
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To calculate the revenue government receives when a tax is imposed on a good, multiply the
A) pre-tax equilibrium price by the pre-tax quantity. B) after-tax equilibrium price by the after-tax quantity. C) tax by the pre-tax quantity. D) tax by the after-tax quantity. E) after-tax equilibrium price by the after-tax quantity and then subtract the pre-tax equilibrium price multiplied by the pre-tax quantity.
A monetary growth rule means that
A) the Fed will raise interest rates if it thinks the economy is growing faster than potential. B) the money supply should grow at a constant rate. C) the Fed will lower interest rates if it thinks a recession is on the horizon. D) the money supply should grow in response to economic conditions.