Consider a Simple Macro Model with a Constant Price Level

question 47

Multiple Choice

Consider a simple macro model with a constant price level and demand-determined output.The equations of the model are: C = 150 + 0.84Y,I = 400,X = 130,IM = 0.08Y,T = 0.Equilibrium national income is 5000 when G is equal to

• A)-40.
• B)520.
• C)580.
• D)740.
• E)812.

Recognize the importance of logical strength and the tests for the acceptability of an argument in ideological reasoning.

Explore the role of belief systems and convictions in shaping one's acceptance of ideological arguments.

Distinguish between deductive and inductive reasoning within the context of ideological arguments.

Acknowledge the social implications of ideological belief structures and how disagreement is perceived.

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Definitions:

Ordinal

Pertaining to a type of data or scale that shows an order or rank among values, where the intervals between values are not necessarily consistent.

Pie Chart

A pie chart is a circular graph divided into sectors, each representing a proportion of the total. It is used to visualize the relative sizes of parts of a whole.

Frequency

In statistics, it refers to the count of how often each value of a set of data occurs; in waves, it refers to the number of occurrences of a repeating event per unit of time.

Variable

A component, characteristic, or aspect that is subject to change or variation.