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ECON-1012-B-Introduction to Macroeconomics

ECON-1012-B-Introduction to Macroeconomics

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How does an increase in autonomous expenditure change the AE curve?

The AE curve shifts upward and becomes less steep.

The AE curve shifts downward and becomes steeper.

The AE curve shifts upward and becomes steeper.

The AE curve shifts downward but leaves its slope unchanged.

The AE curve shifts upward but leaves its slope unchanged.

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Table 11.1.1

YD (dollars)	C (dollars)
100	225
200	300
300	375
400	450
500	525
600	600

Refer to Table 11.1.1, which shows the relationship between consumption expenditure (C) and disposable income (YD) for an economy. What is the marginal propensity to save?

It is decreasing as YD increases.

It is equal to zero when YD equals $600.

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Table 11.1.1

YD (dollars)	C (dollars)
100	225
200	300
300	375
400	450
500	525
600	600

Refer to Table 11.1.1, which shows the relationship between consumption expenditure (C) and disposable income (YD) for an economy. At which disposable income is saving $125?

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When an unplanned decrease in inventories occurs, which of the following events occurs?

Aggregate planned expenditure

is less than real GDP, so firms increase production.

exceeds real GDP, so firms cut production.

exceeds real GDP, so firms increase production.

is less than real GDP, and firms cut production.

exceeds real GDP, so firms increase investment.

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Short Description: A line graph of aggregate planned expenditure versus real G D P. Long Description: The vertical axis is labelled, aggregate planned expenditure (billions of 20 12 dollars) and ranges from 0 to 400 in increments of 100. The horizontal axis is labelled, real G D P (billions of 20 12 dollars) and ranges from 0 to 400 in increments of 100. The 45 degree line slopes upward from the origin passing through the points (100, 100), (200, 200), and (300, 300). The line for C slopes upward from the point (0, 25) on the vertical axis intersecting the 45 degree line at (100, 100). The line for C + I slopes upward from the point (0, 50) on the vertical axis passing through the points (100, 125), (200, 200), and (300, 275).

Refer to Figure 11.3.1, which shows an economy's consumption expenditure (C) and investment (I). If the economy does not engage in international trade and has no government, what is the slope of the AE curve in this economy?

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If the marginal propensity to save is 0.2, which of the following statements is correct?

The slope of the consumption function is 0.2.

The slope of the saving function is 0.8.

The marginal propensity to consume is also 0.2.

The marginal propensity to consume is 0.8.

The marginal propensity to consume is larger than 0.8.

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Which of the following situations occurs at equilibrium expenditure?

Induced consumption equals aggregate planned expenditure.

Aggregate planned expenditure equals consumption.

Consumption equals real GDP.

The price level equals 110.

Aggregate planned expenditure equals real GDP.

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When firms reduce their target level of inventories, how do equilibrium expenditure and real GDP change?

Equilibrium expenditure ________ and real GDP ________.

increases; increases

decreases; does not change

decreases; increases

increases; decreases

decreases; decreases

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Which of the following events will increase in the slope of the AE curve?

an increase in the marginal propensity to import

a decrease in the marginal propensity to save

a decrease in the marginal propensity to consume

an increase in the marginal propensity to save

an increase in the marginal tax rate

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Table 11.1.1

YD (dollars)	C (dollars)
100	225
200	300
300	375
400	450
500	525
600	600

Refer to Table 11.1.1, which shows the relationship between consumption expenditure (C) and disposable income (YD) for an economy. When disposable income is zero, which of the following outcomes occurs?

Consumption expenditure is -$150.

Consumption expenditure is zero.

Saving is zero.

Consumption expenditure is $150.

Consumption expenditure is $100.

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