If C = $500 Billion

question 168

True/False

If C = $500 billion + .6Y, then, if Y = $1,000 billion, induced consumption will be equal to $1,100 billion.

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Definitions:

Stare Decisis

Stare decisis is the legal principle of determining points in litigation according to precedent, where courts follow the rulings of previous cases with similar circumstances.

School of Jurisprudence

A particular philosophy or approach to understanding and interpreting the law and legal systems.

Legal Positivism

A school of thought in philosophy of law which holds that laws are rules made by human beings and that there is no inherent or necessary connection between law and morality.

Defamation

The act of damaging someone's good reputation through false statements, either spoken (slander) or written (libel).