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Use the following information to answer question 1 - 10 . C = 3000 + 0.6Y | = 1500 G = 2500

Use the following information to answer question 1 - 10 . C = 3000 + 0.6Y | = 1500 G = 2500

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the following information to answer question 1 - 10 . C = 3000 + 0.6Y | = 1500 G = 2500 X = 1200 IM = 0.2Y T = 10% 1) The equilibrium GDP is A) 8200 B) 10000 C) 13666 D) 20500 2) The marginal propensity to consume is A) 0.7 B) 0.6 6 C) 0. 6 D) 0.4 3) The marginal response of consumption is A) 0.7 B) 0.66 C) 0.6 D) 0.4 4) Marginal propensity to import is A) 0.4 B) О.3 С) 0.2 D) 0.1 5) Marginal propensity to spend is A) 0.8 B) 0.6 C) 0.4 D) 0.2 6) The simple multiplier is A) 3 B) 2.5 C) 1.67 D) 1.5 2 7) The autonomous private consumption spending is A) 3000 B) 4000 C) 4500 D) 5700 8) If the income tax increases by 5%, and the MPC stays the same, then the new simple multiplier is A) 2.5 B) 1.87 C) 1.58 D) 1.5 9) If the government spending decreases by 500, then the new equilibrium GDP is A) 10000 B) 12833 C) 13166 D) 13666 10) If exports increases to 1700, then the new equilibrium GDP is A) 13166 B) 13666 C) 14166 D) 14500
Transcribed Image Text:Use the following information to answer question 1 - 10 . C = 3000 + 0.6Y | = 1500 G = 2500 X = 1200 IM = 0.2Y T = 10% 1) The equilibrium GDP is A) 8200 B) 10000 C) 13666 D) 20500 2) The marginal propensity to consume is A) 0.7 B) 0.6 6 C) 0. 6 D) 0.4 3) The marginal response of consumption is A) 0.7 B) 0.66 C) 0.6 D) 0.4 4) Marginal propensity to import is A) 0.4 B) О.3 С) 0.2 D) 0.1 5) Marginal propensity to spend is A) 0.8 B) 0.6 C) 0.4 D) 0.2 6) The simple multiplier is A) 3 B) 2.5 C) 1.67 D) 1.5 2 7) The autonomous private consumption spending is A) 3000 B) 4000 C) 4500 D) 5700 8) If the income tax increases by 5%, and the MPC stays the same, then the new simple multiplier is A) 2.5 B) 1.87 C) 1.58 D) 1.5 9) If the government spending decreases by 500, then the new equilibrium GDP is A) 10000 B) 12833 C) 13166 D) 13666 10) If exports increases to 1700, then the new equilibrium GDP is A) 13166 B) 13666 C) 14166 D) 14500
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