If you spend more of your income on consumption goods which of the following

If you spend more of your income on consumption goods

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119) If you spend more of your income on consumption goods, which of the following will occur?A) Investments in education will rise.B) For every dollar you spend on consumption, real GDP will fall by a dollar.C) The production of investment goods will fall.D) Economic growth will be stimulated.Answer: C119)Diff: 2Page Ref: 702/328Topic: Determinants of Economic GrowthLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB: Reflective Thinking30
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120) Which of the following is a true statement about the length of recessions and expansions in theUnited States economy?120)Diff: 1Page Ref: 700-701/326-327Topic: The Business Cycle Since the 1950sLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB:121) Which of the following is a true statement about the length of recessions and expansions in theUnited States economy?121)Diff: 1Page Ref: 700-701/326-327Topic: The Business Cycle Since the 1950sLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB:122) All else equal, the rising demand for air travel in 2011 would cause the demand curve for air travelto shift to the ________, resulting in ________ ticket prices and a ________ quantity of ticketssupplied.122)Diff: 2Page Ref: 704-705/330-331Topic: Determinants of Economic GrowthLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB:TRUE/FALSE. WriteʹTʹif the statement is true andʹFʹif the statement is false.123) The lengths of the recession and expansion phases and which sectors of the economy are mostaffected will rarely be the same in any two business cycles.123)Answer:TrueFalseDiff: 1Page Ref: 694/320Topic: The Business CycleLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB: Reflective Thinking124) A period of economic expansion ends with a business cycle trough.124)Answer:TrueFalseDiff: 1Page Ref: 694/320Topic: The Business CycleLearning Outcome: Macro 1: Define macroeconomics and identify its basic concernsAACSB: Reflective Thinking31
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