Autonomous Aggregate Expenditures Are Those That Automatically Vary with Real

question 75

True/False

Autonomous aggregate expenditures are those that automatically vary with real GDP,whereas induced expenditures only change in response to a change in an external factor.

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Definitions:

Economic Force

A factor that can influence the economy, such as inflation, unemployment rates, or technological advancements.

Consumer Ethnocentrism

The belief held by consumers that buying domestic products is morally right and superior to purchasing foreign products.

International Protectionism

This refers to the use of barriers and regulations by countries to protect their domestic industries from foreign competition.

Sociocultural Bias

Prejudice or discrimination based on societal norms or cultural differences.