11.3 the Final Equilibrium

question 206

Multiple Choice

11.3 The Final Equilibrium
Refer to the information provided in Figure 11.6 below to answer the questions that follow. Figure 11.6
-Refer to Figure 11.6. Suppose the equilibrium output is initially $600 billion. A decrease in wages and an increase in government spending will, for sure, increase

• A) both the equilibrium output and the price level.
• B) the price level.
• C) equilibrium output.
• D) equilibrium output and decrease the price level.

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Definitions:

Positive Feelings

Emotional states or attitudes that are pleasant or favorable, such as happiness or satisfaction.

Culture

Culture refers to the shared beliefs, norms, behaviors, and symbols within a group, organization, or society that shape members' worldviews and practices.

Terminal Values

Reflect a person’s preferences concerning the “ends” to be achieved.

Instrumental Values

Instrumental values reflect a person’s beliefs about the means to achieve desired ends.