Recently, the Level of GDP Has Declined by $60 Billion

question 184

Multiple Choice

Recently, the level of GDP has declined by $60 billion in an economy where the marginal propensity to consume is 0.75.Aggregate expenditures must have fallen by

• A)$45 billion.
• B)$30 billion.
• C)$15 billion.
• D)$60 billion.

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Definitions:

Climate

The average weather conditions of a region over a long period, typically including temperature, precipitation, humidity, and seasons.

Terrestrial Biomes

Large regions on Earth, characterized by specific climate conditions, plant communities, and wildlife, such as forests, deserts, and grasslands.

Canadian Scientists

Researchers and scholars from Canada who contribute to various fields of science.

Temperate Deciduous Forests

Forests located in temperate zones characterized by trees that lose their leaves seasonally, usually in the autumn, showing a rich diversity of plant and animal life.