Initially,the Economy Is in Long-Run Equilibrium

question 68

Multiple Choice

Initially,the economy is in long-run equilibrium.The aggregate demand curve then shifts $80 billion to the left.The government wants to change spending to offset this decrease in demand.The MPC is 0.75.Suppose the effect on aggregate demand of a tax change is 3/4 as strong as the effect of a change in government expenditure.There is no crowding out and no accelerator effect.What should the government do if it wants to offset the decrease in real GDP?

• A)Raise both taxes and expenditures by $80 billion dollars.
• B)Raise both taxes and expenditures by $10 billion dollars.
• C)Reduce both taxes and expenditures by $80 billion dollars.
• D)Reduce both taxes and expenditures by $10 billion dollars.

Understand different projection systems used in engineering drawings.

Recognize the units of measurements and their application in engineering drawings.

Identify the views represented in engineering drawings and their significance.

Differentiate between types of drawings used in engineering (detail, assembly, working drawings).

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Definitions:

Team Member

An individual belonging to a group working together to achieve common goals or complete tasks.

Holistic Approach

A comprehensive method considering all aspects of an individual's well-being, including physical, mental, and social factors.

Powerful Professions

Occupations that hold significant influence, authority, or control within society, often affecting major decisions and policies.

Overrepresented

Refers to a group or category that is disproportionately large or appears in greater numbers than would be expected within a given context.