Macroeconomics Quiz CH 13 &14

Macroeconomics Quiz CH 13 &14 - Macro tools Chapter...

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1. During an economic downturn, households respond to a decline in income by A) reducing consumption. B) reducing taxes. C) negotiating higher wages. D) increasing the quantity of labor supplied. Points Earned: 10.0/10.0 Correct Answer(s): A 2. In the aggregate expenditures model, in equilibrium, A) aggregate expenditures equal real GDP produced. B) aggregate expenditures equalinvestment. C) aggregate expenditures equalsaving. D) aggregate expenditures equal consumption. Points Earned: 10.0/10.0 Correct Answer(s): A 3. Which of the following events cause the aggregate expenditures curve to "shift" downwards? A) Firms become optimistic about future profits and increase investment spending. B) The government reduces property tax rates. C) The government cuts spending on education. D) An increase in exports. Points Earned: 0.0/10.0 Correct Answer(s): C
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4. The relationship between aggregate expenditures and real GDP is shown by the A) autonomous expenditures curve. B) aggregate expenditures curve.
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This note was uploaded on 03/07/2012 for the course ECON 2301 taught by Professor Staff during the Spring '08 term at HCCS.

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Macroeconomics Quiz CH 13 &14 - Macro tools Chapter...

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