Question : 81) Refer to Table 21-4. The equilibrium level of national : 1384372

 

81) Refer to Table 21-4. The equilibrium level of national income will be

A) $ 70.

B) $ 93.

C) $120.

D) $160.

E) $280.

82) Refer to Table 21-4. At the equilibrium level of national income, desired consumption expenditure will be

A) $ 30.

B) $ 70.

C) $210.

D) $240.

E) $280.

83) Refer to Table 21-4. At the equilibrium level of national income, desired saving will be

A) zero.

B) $ 40.

C) $ 70.

D) $200.

E) $240.

84) Consider a simple macro model with demand-determined output. At the equilibrium level of national income,

A) consumers’ purchases of goods and services equal firms’ purchases of investment goods.

B) firms will hold no inventories of raw materials or final goods.

C) desired aggregate expenditures will equal total output.

D) desired aggregate expenditures will equal total output minus inventory holdings.

E) consumers’ purchases of goods and services equals their saving.

85) In a simple macro model with no government and no foreign trade, the equilibrium level of national income is the level of income at which

A) aggregate desired expenditure is greater than actual national income.

B) aggregate desired expenditure equals actual national income.

C) aggregate desired expenditure equals consumer spending.

D) saving equals income.

E) saving equals consumer spending.

86) In a simple model of the economy with demand-determined output, the equilibrium level of national income is at an income

A) to the right of the point where the AE curve intersects the 45-degree line.

B) to the left of the point where the AE curve intersects the 45-degree line.

C) where aggregate desired expenditure equals the value of total output.

D) where aggregate desired expenditure equals consumption.

E) where saving equals consumption.

87) In a simple macro model with demand-determined output, the equilibrium level of national income is at an income

A) to the left of the point where the AE curve intersects the 45-degree line.

B) where the AE curve intersects the 45-degree line.

C) to the right of the point where the AE curve intersects the 45-degree line.

D) where saving equals consumption.

E) where saving equals income.

88) Consider the simplest macro model with a constant price level and demand-determined output. If desired aggregate expenditure is less than actual national income, then

A) inventories begin to fall, causing firms to increase production.

B) actual national income is below the equilibrium level.

C) actual national income must be above the equilibrium level.

D) actual national income must be at equilibrium.

E) inventories begin to fall, causing national income to fall.

89) Consider the simplest macro model with demand-determined output. If desired aggregate expenditure is greater than actual national income, then

A) inventories will likely begin to fall, causing firms to increase production.

B) actual national income must be less than the equilibrium level.

C) actual national income must be greater than the equilibrium level.

D) inventories will likely begin to rise, causing firms to reduce production.

E) both A and B are correct.

90) In a simple macro model with the price level assumed to be constant, a change in firms’ level of desired investment is predicted to influence equilibrium national income by

A) shifting the saving function.

B) shifting the consumption function.

C) shifting the aggregate expenditure function.

D) causing movement along the investment function.

E) shifting the 45-degree line.

 

 

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