A. not change

C. fall

D. fluctuate

B. inflation

C. unemployment

D. economic growth

A. a year

B. two years

C. three years

A. interest rates

C. exchange rates

D. taxes

A. increase the MPC

B. reduce output

D. leave output unchanged

A. corrected for changes in interest rates

C. At the present time

D. corrected for tax changes

A. investment, savings, government expenditure

B. consumption investment government expenditure

C. consumption taxes imports

A. imperfectly competitive markets:

B. Only the long run adjustments to equilibrium in the economy

C. The functioning of individual industries and the behavior of individual decision-making units business firms and households

A. personal saving and personal consumption

C. None of the above

D. personal saving and private investment

A. savings government expenditure and imports

B. consumption savings and taxes

D. savings taxes and exports

A. C + 1

B. I + G

D. C + G

A. peak to trough

B. the slump to the expansion

D. trough to peak

A. 1/MPC

B. 1(1-MPC)

D. 1/MPS

B. disposable incomes

C. average propensity to consume

D. marginal propensity to invest

A. income-expenditures diagram

B. income-price diagram

D. aggregate demand-aggregate supply diagram

A. economic theory to explain the simultaneous increases in inflation and unemployment during the 1970s

C. fine tuning during the 1960s

D. the economy to grow at a rapid rate during the 1950s

A. is less than

B. fluctuates around

C. is greater than

A. None of the above

B. increase

D. do not change

B. produced by the government

C. of labor supplied by all households

D. of products produced by a given industry

B. booms, booms

C. booms, recessions

D. recession, recession

A. 3<2<1

B. any measure can be larger or smaller than any other

C. 3>2>1

A. the water distribution system

B. part of the rail network

C. legal transactions

A. remain unchanged

B. move into deficit

D. None of the above above

A. the lags between statistical collection and publication

B. poor statistics

D. smuggling

A. consumption

B. exports

D. investment

B. wholesale price index (WPI)

C. GDP deflator

D. Producer price index (PPI)

A. There is a Bank Holiday

B. None of these

C. Injections withdrawals

A. households to save more

B. the MPC to change

D. firms to produce less

A. savings + government expenditure + exports

B. investment + tax + exports

C. investment + government expenditure + imports

A. convert nominal GDP to real GDP

B. pay wages b multinational companies

D. estimate the costs of economic growth

A. be greater than

B. be less or greater than

D. be less than

A. politicians

C. peasants

D. The army

A. wholesale price index (WPI)

B. Producer price index (PPI)

D. Consumer price index (CPI)

B. investment exports transfer payments

C. consumption investment exports

D. taxes exports, transfer payments

A. market failure

C. market imperfection

D. the law of diminishing returns

B. a leakage

C. an injection

D. a final good

A. Reducing inflation

C. Increasing North Sea oil production

D. Achieving a sustainable rate of economic growth

A. MPC and MPZ

B. MPT and MPZ

C. MPC and MPT

B. increases, increases

C. reduces, increase

D. reduces, reduces

A. sumer expenditure and investment

C. consumer expenditure investment government expenditure and exports less imports

D. consumer debt investment debt and government debt

A. including tax evasion

B. including externalities

C. including non-market activities

A. resources and a good climate

B. money and luck

C. money and efficiency

A. unemployment population ratio

B. employment rate

D. labor force rate

A. savings investment

B. consumption income

C. investment output

A. 0.2

B. 2-Jan

C. 20

A. AD = C + I + G + X + Z

B. AD = C + I + G

C. AD = C + I

B. increase, increase

C. falls, increase

D. increase, fall