Given a national income of $900 billion, an MPC of 0.8, and autonomous consumption of $60 billion, what is the level of consumption spending?

A property of an asset that makes it desirable for use as a means of settling debts maturing in the future is a(n)

A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.

In a given year, U.S. nominal GDP was $527 billion and the GDP chain price index for that year is 23.3 . Real GDP in 1996 dollars is:

a. $1,228 billion. b. $2,262 billion. c. $3,000 billion. d. $3,262 billion.