The rate of inflation in Vroomka, a small island country, was 12.3 percent last year. The value of the GDP deflator of the country last year was _____

The expenditure multiplier measures the change in

A) autonomous spending that results from a change in equilibrium expenditure. B) equilibrium expenditure from a change in induced consumption. C) consumption expenditure for a given change in disposable income. D) equilibrium expenditure that results from a change in autonomous expenditure. E) the price level that results from a change in real GDP.

It is difficult to empirically test alternative macroeconomic models against one another because

A. macroeconomic models are always expressed in scientific terms. B. macroeconomic models cannot be expressed in mathematical terms. C. macroeconomic models do not predict the same outcomes from policies. D. macroeconomic models differ in ways that are hard to standardize for.