N 15 efertotable22

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Unformatted text preview: nal income is ________. A) .09 0 B) .72 0 C) .81 0 D) .90 0 E) .00. 1 The table below shows national income and imports. The level of exports is fixed at $300. All figures (in table and questions) are in millions of dollars. Income (Y) 2000 a 3000 b 4000 c 5000 d Imports (IM) 150 Net Exports (NX) 250 350 450 TABLE 22-1 14) efer to Table 22-1. What are the correct values for the level of net R exports (a, b, c, and d) at each level of national income? A) = $150, b = $250, c = $350, d = $450 a B) = $300, b = $300, c = $300, d = $300 a C) = -$150, b = -$50, c = $50, d = $150 a D) = $150, b = $50, c = -$50, d = -$150 a E) ot enough data to determine. n 15) efer to Table 22-1. What is the marginal propensity to import? R A) .01 0 B) .10 0 C) .0 1 D) 0.0 1 E) ot enough data to determine. n 16) ther things being equal, when the price level rises, the real value of O money holdings _______; when the price level falls, the real value of money holdings ________. A) alls; rises f B) s not affected; rises i C) alls; is not affected f D) ises; falls r E) s not affected; falls i 14) ______ 15) ______ 16) ______ FIGURE 23-2 17) efer to Figure 23-2. Suppose that an increase in government purchases 17) ______ R caused the AD curve to shift to the right, as shown. If the simple multiplier in this model is 4, then what is the value of the multiplier? A) .8 2 B) .2 3 C) .2 1 D) .4 1 E) 4 18) n a macro model with a constant price level, an increase in government 18) ______ I purchases will cause the AE curve to shift A) ownward and the AD curve to shift to the right. d B) pward and the AD curve to shift to the left. u C) ownward and a movement to the right along the AD curve. d D) pward and the AD curve to shift to the right. u E) ownward and the AD curve to shift to the left. d The diagram below shows an AD/AS model for a hypothetical economy which is initially in a short-run equilibrium at point A. FIGURE 24-6 19) onsider Figure 24-6. The government could close the existing output C gap by A) ecreasing the net tax rate. d B) ncreasing government purchases. i C) mplementing an expansionary fiscal policy. i D) ecreasing government transfer payments. d E) ncreasing the net tax rate. i 20) he ʺadjustment asymmetryʺ in aggregate supply refers to the T A) ifferent relative sizes of inflationary versus recessionary gaps. d B) conomyʹs path toward potential o...
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