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CLEP Macroeconomics: Measurement Of Economic Performance - 2
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CLEP Macroeconomics: Measurement Of Economic Performance - 2
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25 Questions

1. Equation for MPC out of real GDP

2. Changes in real GDP DO or DO NOT change investment plans.

3. The time of production during which there are fixed and variable costs

4. Spending for the production and accumulation of capital goods and additions to inventory

5. The part of aggregate planned expenditure that does not change when real GDP changes

6. Changes in real GDP DO or DO NOT change domestic exports.

7. Change in imports divided by the change in real GDP

8. The magnitude of the multiplier depends on the ___ _____

9. A deficit that arises out of a recession

10. Real GDP - net taxes

11. A deficit that persists during full employment

12. As real GDP increases - disposable income increases - but by ___ than the increase in real GDP because net taxes also increase.

13. The capitalistic economy would tend to employ its resources fully

14. An increase in public debt will have little or no effect on real output or employment because people will choose to save more money

15. If the MPC is 0.65 - what is the multiplier?

16. While investment - government spending - and exports remain constant during changes in the GDP - this kind of expenditure changes with the level of GDP

17. The level of aggregate expenditure when aggregate planned expenditure equals real GDP

18. Opposite of traditional view; supply side effects are dominant

19. (1) Pure competition; (2) Flexible wages and prices; (3) Self-interested motives; (4) People cannot be fooled by money illusions

20. An increase in government expenditures or a decrease in taxes

21. C + I + G + N - import function

22. Expansionary fiscal policy would be used to counteract a _________

23. Inventories remain at their target levels when....

24. Most economic theory is based on this

25. The purchase of foreign goods or services

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