Sophia (Macroeconomics) - Unit 1 _3

Which statement below regarding aggregate demand is true? It expresses an inverse relationship between price level and RGDP. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the subsidy on the consumer will decrease. Se...

Which statement below regarding monetary policy is false? Central banks aim for an inflation rate of 5%. What does the expression Y-(C+T) represent? Public savings If the MPC is 0.75 and the government increases spending by $100 billion, the effect this change has on the economy will be which of...

Which statement below about economics is NOT true? It only considers the choices that take place on an individual level. Which of the following is NOT a good reason to study macroeconomics? It can help someone understand choices made at the individual level. In the circular flow diagram, which...

If the price of gold is rising, which of the following can we also expect to be true? Quantity demanded for gold will be decreasing. What will finding out that two of her children have severe peanut allergies cause for Jenna's demand for almond butter? The almond butter demand curve will make ...

Which of the following make up a country's balance of payments? Capital account and current account Which of the following is NOT part of the expenditure approach to calculating GDP? Labor income If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the ba...

Which statement below about economics is NOT true? It only considers the choices that take place on an individual level. Which of the following is NOT a good reason to study macroeconomics? It can help someone understand choices made at the individual level. In the circular flow diagram, which...