In the United States, as measured by real GDP per person, average income is about how many times as high as average income a century ago?

If the consumption function is defined as C = 7,250 + 0.8Y, what is the autonomous level of consumption expenditure?

A) $5,800 B) $7,250 C) $9,062.50 D) $9,700

Refer to Figure 12.5. If exchange rates are floating, the Fed decreasing its target inflation rate would best be represented by a movement from ________ in panel (a) and a corresponding movement from ________ in panel (b)

A) point A to point B; point X to point Y B) point C to point A; point X to point Y C) point D to point C; point Y to point X D) point B to point D; point Y to point X