study.com 1. The U.S. economy has just released a 2016 report that details the total amount of goods and services produced and supplied by its firms at multiple price levels. What would be an appropriate name for this report? Report an error 2016 aggregate supply report O 2016 government revenues report 2016 government spending report 2016 aggregate demand report 2. Capital goods, public goods, and traded goods are used to calculate the: eport an Error aggregate supply O economic expansion value. aggregate demand. economic contraction value. 3. Consider the marginal propensity to consume as it applies to this example. Four neighboring households have combined incomes that are, $100k, $75k, $50k, and $25k, respectively. Which household will spend the largest percentage relative to living expenses? Report an error $100k $50k 575k $25 4. The marginal propensity to consume is extra income above one's regular income that is: Report an er tax deductible pre-tax O spent saved. 5. You're so excited to attain your first teaching position. During new employee orientation, your pay scale suggests that annual salary is fixed, and will not increase until after the completion of the second year. What type of wage structure is this an example of? tan Fixed income Public service wages Intrinsic motivation wages Sticky wages 6. Based on the concept of sticky wages, WHAT is the general response rate for wage adjustments during economic stagnation? Report as Error Sticky wages are set by the Federal Reserve's monetary policy Sticky wages are set by U.S. congressional fiscal policy Typically a slow adjustment Typically a rapid adjustment Support 7. A recent hurricane has had a large impact on factories, transport lines, and communication systems in a particular state. What economic effect may result from this weather pattern? portar An unfavorable supply shock A favorable supply shock An increase in insurance premiums A decrease in insur premiums 8. Silicon Valley has had a tremendous year in technology innovation that can automate a particular production process. What economic effect is this MOST likely to produce? A favorable supply shock An increase in jobs for college graduates A favorable tax deduction A favorable tax credit