Consider the Simplest Macro Model with Demand-Determined Output

question 38

Multiple Choice

Consider the simplest macro model with demand-determined output.The equations are: C = 150 + 0.8Yd,Yd = Y -T,I = 400,G = 700,T = .2Y,X = 130,and IM = 0.14Y.The marginal propensity to spend on national income in this model is

• A)0.50.
• B)0.54.
• C)0.64.
• D)0.84.
• E)0.86.

Understand the principles of experiment design, including randomization and control, in establishing causality.

Recognize issues of generalizability, validity, and reliability in sociological research.

Understand the basic concepts and terminologies used in survey research.

Identify the types and characteristics of surveys and questionnaires.

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Definitions:

Environment Clean-up

The process of removing pollutants or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection and enhancement of the environment.

Negative Externality

A situation where the production or consumption of a good or service results in a harmful effect on unrelated third parties.

Market Equilibrium

Occurs when the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Socially Optimal Level

An economic condition where resources are allocated in a way that maximizes the overall benefit to society, considering both efficiency and equity.