Use the Following to Answer Questions

question 101

Multiple Choice

Use the following to answer questions .
Exhibit: Aggregate Expenditures Curve
Figure 13-6
-(Exhibit: Aggregate Expenditures Curve) Let Y = real GDP, AE = Aggregate Expenditures, C = Consumption, I_P = Planned Investment, G = Government Purchases. Further, I_P and G are autonomous. What is the level of autonomous aggregate expenditures at equilibrium real GDP?

• A) $800 billion
• B) $1,000 billion
• C) $1,600 billion
• D) $3,200 billion

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Commerce Clause

A provision in the United States Constitution giving Congress the power to regulate commerce with foreign nations, and among the several states.

Preemption Doctrine

The principle that federal law can supersede or override state law in areas expressly reserved for federal regulation or where there is a conflict.

Sales Tax

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