In an economy with a fixed price level, exports increase. which of the following statements best describes the sequence of changes in the economy?

Question

Accepted Answer

Autonomous expenditure increases, real GDP increases, induced expenditure increases, real GDP increases again until equilibrium expenditure is reached.

Answer

Induced expenditure increases, autonomous expenditure increases, real GDP increases, and consumption expenditure increases.

Answer

Induced expenditure increases, real GDP increases, autonomous expenditure increases, real GDP increases again until the process ends.

Answer

Autonomous expenditure increases, induced expenditure increases, real GDP increases, and the price level rises.

Answer

Induced expenditure increases, real GDP increases, autonomous expenditure increases, and the price level increases, and real GDP increases by a smaller amount.

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In an economy with a fixed price level, exports increase. which of the following...

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