If the consumption function is C = 120 +_.8(Y-T) in the basic Keynesian model, then in the government spending multiplier is:

The U.S. economy of the late 1920s and early 1930s is typically referred to as ________

A) "The Great Depression" B) "The Great Inflation" C) "The Great Moderation" D) all of the above E) none of the above

Suppose biochemists discover an enzyme that can double the amount of ethanol that may be derived from a given amount of biomass. Based on this technological development, we expect the:

A) supply curve for ethanol to shift leftward. B) supply curve for ethanol to shift rightward. C) demand curve for ethanol to shift leftward. D) demand curve for ethanol to shift rightward.