Suppose the Price Level Is Constant, Output Is Demand- Determined

question 9

Multiple Choice

Suppose the price level is constant, output is demand- determined, and the economy is closed with no government. If the consumption function is C = (1/2) Y, the simple multiplier is

• A)2/3.
• B)1.
• C)2.
• D)3.
• E)- insufficient information to know.

Recognize the importance and functions of culture in human societies.

Identify the role of symbols in culture and the process of abstraction in creating concepts.

Comprehend the impact of culture on individual perception and group behavior.

Appreciate the importance of norms, values, beliefs, and cultural elements in shaping human reality.

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Definitions:

Tautology

A redundant or repetitive statement in which the same thing is said twice in different words.

Main Component

A primary or essential part of a larger whole or system.

Biconditional

A logical relation between statements where both are either simultaneously true or simultaneously false.

Tautology

A statement that is true by virtue of its logical form alone, and is redundant or self-evident.