If the Price Level Is Taken as Given in a Simple

question 99

Multiple Choice

If the price level is taken as given in a simple macro model with demand-determined output,it is implicitly being assumed that

• A)net exports are positive.
• B)net exports are negative.
• C)the marginal propensity to consume out of disposable income is equal to the marginal propensity to spend out of national income.
• D)all resources in the economy are fully employed.
• E)producers can provide whatever output is demanded of them without requiring higher prices to offset any higher costs.

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Thyroid Hormone

Hormones produced by the thyroid gland, primarily thyroxine (T4) and triiodothyronine (T3), that regulate metabolism.

Congenital Condition

A condition or disease present from birth, either inherited or caused by environmental factors.

Male Characteristics

Traits or features, both biological and physiological, traditionally associated with male organisms.