A given income-expenditure diagram always assumes a variable price level.

Which of the following statements is true of the Industrial Revolution?

A) It was a gradual process. B) It started in the capital goods industry. C) It was a period of rapid disruption. D) It started in the United States.

Refer to the table above. If government expenditure increases by $2,000 in the next year, ________, all other variables remaining unchanged

A) gross domestic product will increase to $404,000 B) gross domestic product will fall by $ 2,000 C) gross domestic product will fall to $400,000 D) gross domestic product will increase by $2,000