From 2002 to 2003, personal income rose by $352 billion. If the MPC = 0.9, then personal consumption expenditures rose by

Suppose there is a reduction in expected future output. This will cause which of the following to occur?

A) the IS curve to shift left in the current period B) the IS curve to shift right in the current period C) the LM curve to shift up in the current period D) the LM curve to shift down in the current period

Refer to the information provided in Figure 28.8 below to answer the question(s) that follow. Figure 28.8Refer to Figure 28.8. Expected inflation at Point C equals

A. 4%. B. 5%. C. 6%. D. cannot be determined from the figure.