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Quiz - Chapters 27, 28 and 30

Quiz - Chapters 27, 28 and 30 - Points Awarded 120.00...

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Points Awarded 120.00 Points Missed 0.00 Percentage 100% 1. Actual aggregate expenditure is A) always equal to real GDP. B) only equal to real GDP at the equilibrium level of aggregate planned expenditure. C) never greater than real GDP but can be less than real GDP. D) never less than real GDP but can be greater than real GDP. Points Earned: 1.0/1.0 Correct Answer(s): A 2. The multiplier is the ratio of the Points Earned: 1.0/1.0 Correct Answer(s): A
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3. If the slope of the AE curve increases, the multiplier Points Earned: 1.0/1.0 Correct Answer(s): B 4. In the above figure, the shift from AE0 to AE1 might have been caused by Points Earned: 1.0/1.0 Correct Answer(s): A
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5. The multiplier measures the A) horizontal shift in the aggregate demand curve from an increase in autonomous spending. B) vertical shift in the aggregate demand curve from an increase in autonomous spending. C) horizontal difference between two points on the same aggregate demand curve. D) vertical difference between two points on the same aggregate demand curve. Points Earned: 1.0/1.0 Correct Answer(s): A 6. What is the largest source of revenue for the federal government? Points Earned: 1.0/1.0 Correct Answer(s): C 7. A budget deficit is the difference between
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Points Earned: 1.0/1.0 Correct Answer(s): C 8. As a percentage of GDP, from 1980 to 2005, federal government tax revenue Points Earned: 1.0/1.0 Correct Answer(s): B
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