Which of the following is NOT an injection?
A) The state of Illinois builds a new courthouse.
B) Kansas farmers sell 1 million bushels of wheat to Russia
C) The Smithsonian Institute purchases Chris Evert Lloyd's tennis racket.
D) An accountant purchases a new personal computer for use in his office.
C
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What impact did the change in housing prices during 2002 to 2005 have within the framework of the AD/AS model?
a. Declining housing prices reduced aggregate demand shifting AD leftward. b. Rising housing prices increased aggregate demand shifting AD rightward. c. Rising housing prices led to increased construction shifting LRAS leftward. d. Declining housing prices caused SRAS to shift leftward.
The larger the marginal propensity to consume:
a. the larger will be consumers' savings. b. the more pronounced will be the impact of an expansionary fiscal policy. c. the smaller will be consumer's consumption. d. the smaller will be the spending multiplier.