If nominal GDP is $15 trillion and real GDP is $12 trillion, the GDP deflator is:

According to this Application, residents of Greece in 2015 ________ withdrawals of funds from their banks in order to hold ________ cash

A) decreased; less B) increased; more C) increased; less D) decreased; more

The President proposes a reduction of personal income marginal tax rates in the United States. When marginal tax rates are reduced, there is

A) a decrease in the magnitude of the expenditure multiplier. B) an increase in the magnitude of the expenditure multiplier. C) a decrease in the marginal propensity to consume. D) no change in the slope of the AE line. E) an increase in the marginal propensity to consume.