Briefly Describe the Types of Scores Yielded by the Wechsler

question 4

Essay

Briefly describe the types of scores yielded by the Wechsler intelligence tests. What kind of model of intelligence do these scores endorse?

Evaluate the effectiveness of active stabilization policies in addressing unemployment and inflation.

Recognize the significance of automatic stabilizers in the economy and their impact on output and employment.

Discuss the implications of fiscal policy lags on the economy's adjustment to short-term and long-term goals.

Understand the concept and impact of net exports on aggregate demand and the stabilization policies to address it.

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Definitions:

Disposable Income

The amount of money individuals or households have available for spending and saving after income taxes have been deducted.

Consumption

The use of goods and services by households that leads to a decrease in their availability.

Disposable Income

Available financial merits for households towards spending and saving following income tax subtractions.

MPC

Marginal Propensity to Consume, which is the proportion of any additional income that is spent on consumption rather than being saved.