Refer to exhibit 10 2 which of the following is

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24. Refer to Exhibit 10-2. Which of the following is correct about point M?a. TE is $4,500 billion and TP is only $1,500 billion.b. TP is $4,500 billion and TE is only $1,500 billion.c. TE is $7,500 and TP is only $5,500 billion.d. TP is only $7,500 billion and TE is only $5,500 billion.e. TE is $3,000 billion and TP is only $1,500 billion.
ANSWER:e
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Understanding and applying - DISC:Understanding and applying economic modelsKEYWORDS:Bloom's: Application25. Refer to Exhibit 10-2. If autonomous consumption increases, the TE curve will shift ____________ and the new levelof equilibrium Real GDP will be ___________ than $4,500.d
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Understanding and applying - DISC:Understanding and applying economic modelsKEYWORDS:Bloom's: ApplicationNOTES:New26. Refer to Exhibit 10-2. If autonomous investment decreases, the TE curve will shift ____________ and the new levelof equilibrium Real GDP will be ___________ than $4,500.b
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Understanding and applying - DISC:Understanding and applying economic modelsKEYWORDS:Bloom's: ApplicationNOTES:New27. Total production
b
POINTS:1DIFFICULTY:EasyNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Understanding and applying - DISC:Understanding and applying economic modelsKEYWORDS:Bloom's: Comprehension28. When total production is greater than total expenditures,a. the economy is in disequilibrium.b. there are increases in inventory.c. total output will decrease.d. all of the aboveANSWER:d
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Understanding and applying - DISC:Understanding and applying economic modelsKEYWORDS:Bloom's: Comprehension

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Term
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Tags
Economics, Macroeconomics, The Wealth of Nations, Keynesian economics, Consumption function, autonomous consumption, STANDA United States

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