In the traditional Keynesian model, an increase in government spending
A) causes the C + I + G + X line to shift upward by the full amount of the increase in government spending.
B) causes the C + I + G + X line to shift upward by an amount less than the increase in government spending.
C) causes the C + I + G + X line to shift upward by more than the increase in government spending.
D) causes no change in the C + I + G + X line.
A
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Among the people who are characterized below, who has the highest opportunity cost of leisure?
a. an attorney who earns $200 per hour and who plays golf during her leisure time b. a medical doctor who earns $210 per hour and who sleeps during his leisure time c. a retail clerk who earns $15 per hour and who watches TV during her leisure time d. a waiter who earns $12 per hour and who reads poetry during his leisure time
A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system. B. increase in the value of a currency relative to other currencies. C. reduction in the official value of a currency in a fixed-exchange-rate system. D. decrease in the value of a currency relative to other currencies.