Question #134880
24. If output remains the same, a change in nominal GDP from 2018 to 2019 represents…
[1] economic growth.
[2] an increase in unemployment.
[3] an increase in production.
[4] an increase in the price level.
25. Which one of the following statements is correct regarding consumption and saving in the
Keynesian model?
[1] If total consumption exceeds total income, this is an indication of dissaving.
[2] If the initial income is zero, then total consumption will be equal to total saving.
[3] Given that income does not decrease, a decrease in consumer spending will result in a
proportional decrease in saving.
[4] If autonomous consumption increases, consumer spending will remain the same, ceteris
paribus.
[1] economic growth.
[2] an increase in unemployment.
[3] an increase in production.
[4] an increase in the price level.
25. Which one of the following statements is correct regarding consumption and saving in the
Keynesian model?
[1] If total consumption exceeds total income, this is an indication of dissaving.
[2] If the initial income is zero, then total consumption will be equal to total saving.
[3] Given that income does not decrease, a decrease in consumer spending will result in a
proportional decrease in saving.
[4] If autonomous consumption increases, consumer spending will remain the same, ceteris
paribus.
Expert's answer
24. an increase in the price level.
25. If total consumption exceeds total income, this is an indication of dissaving.
