Consider a Simple Macro Model with a Constant Price Level

question 48

Multiple Choice

Consider a simple macro model with a constant price level and demand-determined output.The equations of the model are: C = 120 + 0.86Y,I = 300,G = 520,T = 0,X = 180,IM = 0.12Y.Equilibrium national income is

• A)2037.48.
• B)3615.24.
• C)4000.00.
• D)4307.70.
• E)8000.00.

---

Definitions:

Declarative Memories

Declarative memories refer to memories that can be consciously recalled, such as facts and events, and are stored in the hippocampus.

Episodic Memory

A category of enduring memory focused on recalling particular incidents, scenarios, and life moments.

Nondeclarative Memories

A type of long-term memory that does not require conscious thought to retrieve and is expressed through performance rather than recall, such as skills and conditioned responses.

Factual Memory

The aspect of memory concerned with recalling objective information and experiences.