Question 54 0 points Which of the following is not a component of aggregate demand? A. Government spending B. Sales tax receipts O c. Investment OD. Consumption XO E. Net exports CONTI PREVIOUS BeyonX Question 52 0 points To reduce the possibility of inflation in the U.S. economy, the Fed should: A. lower the discount rate and sell securities on the open market. XO B. raise the reserve requirement and lower the discount rate. O C. lower the reserve requirement and buy securities on the open market. D. raise the reserve requirement and sell securities on the open market. E. raise the discount rate and buy securities on the open market. - PREVIOUS CONTINUE -X Question 47 0 points In the fictitious nation of Zagora, a worker can produce either 5 books or 10 televisions in an hour. In neighboring Plovdiv, a worker can produce either 3 books or 5 televisions in an hour. Which statement about this situation is true? X A. Zagora has comparative advantage in the production of books. B. Zagora has comparative advantage in the production of televisions. C. Workers in Plovdiv can't possibly compete against the super-productive workers in Zagora. D. Workers in Zagora can't be expected to compete against the low-wage workers in Plovdiv. E. None of the above. PREVIOUS CONTINUE-desLion 43 5 points X Question 44him 0 points Which of the following statements about stagflation is correct? A. It is characterized by high unemployment and low inflation. XO B. It will result in decreased nominal GDP. C. It is a problem easily explained and corrected in the Keynesian model. D. It will result in increased nominal GDP. E. It implies an upward shift in the Phillips curve. PREVIOUS CONTINUE - ng logo, Class Tools Class loois virtual Literacy Advantage , and Beyond Books are Learnin Class I ve unnamed.jpg8.1.7 Exam: Macroeconomics Question 41 5 points X Question 42 0 points Assume an economy with lump sum taxes and no international trade. If there is full employment and a marginal propensity to consume of 0.8, what will be the effect of an $800 increase in autonomous expenditures? A. An increase in real output of at least $4,000 XO B. An increase in real output of $4,000 C. An increase in the price level and in increase in output of approximately $4,000 D. An increase of less than $4,000 in real output E. The answer depends critically on whether the economy is in the Keynesian region of the aggregate supply curve, and the answer cannot be predicted without knowing this. PREVIOUS CONTINUE