The Simple Multiplier Applies to Short- Run Situations in Which

question 73

Multiple Choice

The simple multiplier applies to short- run situations in which the price level is constant. The simple multiplier can be defined as

• A)the change in national income resulting from a change in expenditure, multiplied by the number of years since the initial change.
• B)national income divided by aggregate expenditure.
• C)a change in aggregate expenditures multiplied by the equilibrium level of national income.
• D)the change in national income resulting from a change in saving.
• E)the change in equilibrium national income divided by the initial change in autonomous expenditure that brought it about.

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Definitions:

Baby Boomer

A person born during the post-World War II baby boom between 1946 and 1964, known for being part of a generation with significant impact on economics and culture.

Disposable Dollars

The amount of money available for spending and saving after taxes and personal necessities (like food and shelter) are accounted for.

Working Lifetime

The total span of years in an individual's life during which they are engaged in paid work or employment.

High School Graduates

Individuals who have successfully completed the curriculum requirements of secondary education and have been awarded a diploma.