Refer to the Accompanying Figure

question 116

Multiple Choice

Refer to the accompanying figure. Based on the figure and starting from an initial short-run equilibrium where output equals 20,000, if autonomous consumption spending increases by 1,000, then the new short-run equilibrium output (Y) is equal to:

• A)24,000.
• B)6,000.
• C)14,000.
• D)16,000.

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