Question
Please help me with these questions, I'm so confused and I need to get the correct answers. I'll leave a review if I get the
Please help me with these questions, I'm so confused and I need to get the correct answers. I'll leave a review if I get the correct answers and a good score. :)
Question 1)
As year 2 begins, suppose a country has a debt of $24 million. If the government has an added deficit of $37 million in Year 2, then how much is the public debt at the end of Year 2?
$13 million $24 million $37 million $61 million $85 million
Question 2)
If the multiplier that affects the GDP of a country in response to a change in its taxes is ?3, then what is the country's marginal propensity to save?
0.25 0.40 0.67 0.75 0.80
Question 3)
Use the table to answer the question that follows.
Year | Price of X | Quantity of X | Price of Y | Quantity of Y |
---|---|---|---|---|
1 | $8 | 5 | $9 | 7 |
2 | $5 | 5 | $7 | 7 |
The economy produced only two goods with the prices and quantities of each good for year 1 and year 2 shown in the table. Which of the following describes the state of the economy in year 2?
The economy is going through a deflation, and the nominal GDP has decreased.
The economy is going through an inflation, and the nominal GDP has increased.
The economy is going through a disinflation, and the nominal GDP has decreased.
The economy is going through a stagflation, and the nominal GDP has increased.
The economy is going through a deflation, and the nominal GDP has increased.
Question 4) Use the graph to answer the question that follows.
Inflation % LRPCa LRPCb 5% 3% SRPC O 8% 10% Unemployment rate %Step by Step Solution
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