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AP Econ Friday Quiz 4Q4W

Authored by Christian Tinoco

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12th Grade

Used 86+ times

AP Econ Friday Quiz 4Q4W
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18 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The multiplier is useful in determining:

the full employment rate
level of business inventories
rate of inflation
change in GDP resulting from a change in spending

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If the MPC is .7 and government spending increases by $3 billion, GDP will

increase by $10 billion

increase by 2.1 billion

decrease by $4.29 billion

increase by $4.29 billion

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Assume MPC is 2/3. If government spending increases by $2 billion, GDP will increase by

$3 billion

$2/3 billion

$6 billion

$2 billion

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If there is an initial increase in government spending into the economy, then the final increase in aggregate demand and real GDP will be greater. This reflects

economic growth

the multiplier effect

keynesian economic policy

the accelerator effect

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The proportion of any change in income that is spent rather than saved is

the multiplier

income determinants

marginal propensity to consume

macroeconomic equilibrium

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The equation for the multiplier is:

1/MPC
1/1+MPC
1/MPS
1/1-MPS

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Aggregate expenditure is defined as the

total income of an economy.
spending on all goods and services in Australia.
sum of consumer, investment and government spending, and net exports
sum of consumer, planned investment and government spending, and net exports.

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