Consider the Simplest Macroeconomic Model, with a Closed Economy and No

question 71

Multiple Choice

Consider the simplest macroeconomic model, with a closed economy and no government. If we assume that desired investment is autonomous with respect to national income, then the investment function (which graphs desired investment against actual national income) will be

• A)negatively sloped.
• B)vertical.
• C)positively sloped and relatively steep.
• D)horizontal.
• E)positively sloped and relatively flat.

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Definitions:

Instrumental Values

Refers to the values or beliefs that are a means to an end, emphasizing the usefulness of something for achieving objectives.

Unrestrained Resource Use

The excessive and unsustainable consumption of natural resources without regard for future availability.

Ecocentrists

Individuals or philosophies that prioritize the health, integrity, and sustainability of ecosystems and the non-human world in ethical and decision-making processes.

Species

A species is a group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding, sharing common characteristics and behaviors.