An Initial Change in the Desired Level of Spending by Firms,households,or

question 19

Multiple Choice

An initial change in the desired level of spending by firms,households,or government at a given level of real GDP is a(n) :

• A) autonomous change in aggregate expenditure.
• B) multiplier-induced change in spending.
• C) endogenous spending.
• D) budget surplus.

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Definitions:

Long Term Liabilities

Financial obligations of a company that are due beyond one year, including bonds payable, long-term loans, and lease obligations.

Current Liability

A company's debts or obligations that are due within one year or within the normal operating cycle of the business.

Cash

Liquid currency and assets that can be readily converted to known amounts of cash.

Services

Economic activities offered by one party to another, often involving professional skill, advice, or the performance of tasks in exchange for compensation.