Econ quest. part IV?
any help is appreciated!..
VII_III
Assume that in a hypothetical economy with no public sector and no foreign trade, investment in equipment and structure is constant at $30 billion. At an output level of 0, consumption is 10 billion; at an output of $100 billion, consumption is $90 billion; at an output of $200 billion, consumption is $170 billion; at an output of $300 billion,
a) Impossible to determine from the given info
B)$300 billion
C)$200 billion
D)$100 billion
e) None of the above
VIII_V
The modern quantity theory differs from the crude quantity theory by reconciling that
a) Velocity is not constant
b) Anticipated inflation increases real GDP
c) Unanticipated inflation can increase real GDP in the short run if wages are sticky
d) Unanticipated deflation can increase real GNP
e) Both a and c
VIII_IX
Business recoveries normally last
a) about half as long as the average recession
b) about 4 times as long as
Answer:
III none of the above - it +80B for every 100 in output, so gotta be 250
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