Using the standard 45-degree line diagram, how does an increase in autonomous consumption effect the expenditure schedule?
a. It shifts the expenditure schedule downward.
b. It shifts the expenditure schedule upward.
c. It increases the slope of the expenditure schedule.
d. It decreases the slope of the expenditure schedule.
b
Economics
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Nominal gross domestic product (GDP) is measured in terms of the _____
a. current-year prices b. base-year prices c. export of goods and services d. amount of taxes collected e. hours of employment
Economics
The Great Depression was an era marked by
a. steady growth in GDP and a decline in the rate of unemployment. b. a prolonged period of high unemployment and output substantially below its potential. c. a large decline in the stock market followed by a steady recovery. d. a failure of expansionary monetary policy to stimulate output and employment.
Economics