If national income = $100, autonomous consumption = $75, and the MPC = 0.80, then consumption spending will equal
a. $60
b. $75
c. $80
d. $100
e. $155
E
Economics
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When OPEC caused the price of oil to rise in the early 1970s, the:
a. aggregate supply curve shifted to the right. b. aggregate supply curve shifted to the left. c. aggregate demand curve shifted to the right. d. aggregate demand curve shifted to the left. e. price level in the economy fell.
Economics