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1:17 PM docs.google.com/forms/c Which of the following statements is correct? A variable is endogenous if its value is O determined by forces outside the model A change in an exogenous variable is O classified as an autonomous change A variable is exogenous if its value is O determined by forces within the model. O All of the above The circular flow of income for the two- sector model shows that saving leakages O Always equal to investment spending Sometimes equal to investment O spending O are less than investment spending are always greater than investment O spending The tax multiplier is * greater than the government expenditure O multiplier equal to government expenditure O multiplier less than the government expenditure O multiplier equal to the investment expenditure O multiplier If the increase in exports exceeds the increase in imports, ceteris paribus, the level of income will O Fall O rise y the same none of the above The tools of government fiscal policy include all of the following except: O government spending on goods and services changes in the money supply changes in tax rates the imposition of new taxes The equation C=P20+O.90YD predicts that consumption is P90 when disposable income is P100 P100 when disposable income is P90 P110 when disposable income is P100 P 180 when disposable income is P200 If planned saving equals -P440+O.20YD and planned investment is P60, the equilibrium level of income is O 100 O p400 O p500 O P2500 Given a MPC of 0.80 and a PIO increase in investment, the level of income will change by O increase by P50 O increase by 10 O decrease by P50 O decrease by PIO Which of the following is not correct? * O MPC+MPS=I O I-MPC=MPS O MPS=MPC+I O both a and b. The only difference between the tax and transfer multipliers is the transfer multiplier is the same as the O the tax multiplier the tax multiplier is one more than the O transfer multiplier one affects disposable income while the O other affects MPC O one is positive while the other is negative If at all levels of income, people decide to save a greater portion of their incomes, which of the following is the correct outcome? The saving function shifts down, the O consumption function shifts up, and income remains constant. The saving function shifts up, the O consumption function remains where it was initially, and income rises. The saving function shifts up, the O consumption function shifts down, and income increases. The saving function shifts up, the O consumption function shifts down, and income decreases. 1:17 PM docs.google.com/forms/c Which of the following statements is correct? A variable is endogenous if its value is O determined by forces outside the model A change in an exogenous variable is O classified as an autonomous change A variable is exogenous if its value is O determined by forces within the model. O All of the above The circular flow of income for the two- sector model shows that saving leakages O Always equal to investment spending Sometimes equal to investment O spending O are less than investment spending are always greater than investment O spending The tax multiplier is * greater than the government expenditure O multiplier equal to government expenditure O multiplier less than the government expenditure O multiplier equal to the investment expenditure O multiplier If the increase in exports exceeds the increase in imports, ceteris paribus, the level of income will O Fall O rise y the same none of the above The tools of government fiscal policy include all of the following except: O government spending on goods and services changes in the money supply changes in tax rates the imposition of new taxes The equation C=P20+O.90YD predicts that consumption is P90 when disposable income is P100 P100 when disposable income is P90 P110 when disposable income is P100 P 180 when disposable income is P200 If planned saving equals -P440+O.20YD and planned investment is P60, the equilibrium level of income is O 100 O p400 O p500 O P2500 Given a MPC of 0.80 and a PIO increase in investment, the level of income will change by O increase by P50 O increase by 10 O decrease by P50 O decrease by PIO Which of the following is not correct? * O MPC+MPS=I O I-MPC=MPS O MPS=MPC+I O both a and b. The only difference between the tax and transfer multipliers is the transfer multiplier is the same as the O the tax multiplier the tax multiplier is one more than the O transfer multiplier one affects disposable income while the O other affects MPC O one is positive while the other is negative If at all levels of income, people decide to save a greater portion of their incomes, which of the following is the correct outcome? The saving function shifts down, the O consumption function shifts up, and income remains constant. The saving function shifts up, the O consumption function remains where it was initially, and income rises. The saving function shifts up, the O consumption function shifts down, and income increases. The saving function shifts up, the O consumption function shifts down, and income decreases. income decreases. Assume government spending increases by P1 billion and taxes are unchanged. If the MPS is .15, the equilibrium GDP (income) will increase by billion O O O P2.5 O P6.7 Assume the current equilibrium level of income is P200 billion as compared to the full employment income level of P240 billion. If the MPC is 0.6, what change in autonomous expenditures is needed to achieve full employment? O an increase of P 16 billion O an increase of P25 billion O an increase of PIO billion O an increase of P 12 billion The value of net exports is: * O always positive always larger than government O expenditures an injection into the economy if exports O exceed imports an injection into the economy if imports O exceed exports If the value of the multiplier is 4, an increase in investment of PIO will induce an increase in consumption of: O PIO O P20 O P30 O P40 If the full employment level of output is P500, the existing equilibrium level of output is P380, and the value of MPS is .25, full employment equilibrium can be achieved by additional O consumption of P90 O government expenditures of P30 O government expenditures of P120 O investment of P120 If disposable income rises from P600 billion in year 1 to $650 billion in year 2 and household consumption subsequently increases from P540 billion in year 1 to P570 billion in year 2, the average propensity to consume in year 1 was O 0.60 O 0.70 O 0.80 O 0.90 Personal Income differs from Disposable Income by rsonal taxes. personal saving and personal taxes. personal saving. the rate of inflation The marginal propensity to consume is * the level of household spending O associated with a given level of saving the percentage of additional disposable O income that households spend. O the same as autonomous consumption always equivalent to the marginal O propensity to save. If equilibrium income is P500 billion, MPC = 0.8, and investment spending increases by P20 billion, the new equilibrium income will be O p600 O p 700 O p520 O p550 The interest rate represents * the index of creditworthiness for O investors O the transactions demand for money. O the opportunity cost of holding money O the market demand for bonds. When imports fall * O income rises. O the government deficit rises O income falls. O exports rise. The policy of the government with regard to the level of government purchases, the level of transfers and the tax structures. O fiscal policy O easy monetary policy O expansionary fiscal policy O contractionary fiscal policy If C=P50+O.80YD, * O The MPC is 0.50 O the MPC is 0.20 O the MPS is 0.80 O the MPS is 0.20 When consumers save a tax cut instead of spending it, this is known as O A monetary offset O icardian equivalence O Contractionary fiscal policy O The fiscal multiplier The effects of expansionary fiscal policy * depend on the behavior of O Consumers O Businesses O Central Bank. O All of the above Which of the following are automatic stabilizers used by the government? ployment benefits. Temporary tax cuts passed by Congress O when bad economic news hits Temporary spending increases passed O by Cong ress when bad economic news hits. O All of the above Given that an ideal stimulus is timely, targeted, and temporary, which of the following scenarios would most benefit from expansionary fiscal policy? a. Consumption spending declines rapidly as many people fear a recession. Workers get lb. aid off by the hundreds O of thousands because of a sudden collapse in investment purchases. c. Wages have grown slowly for many O years O d. a and b O and c O Other: Submit Clear form Never submit passwords through Google Forms. This content is neither created nor endorsed by Google. Report Abuse - Terms of Service - Privacy Policy.