National Income Equilibrium

National Income Equilibrium

University

23 Qs

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National Income Equilibrium

National Income Equilibrium

Assessment

Quiz

Social Studies

University

Practice Problem

Medium

Created by

KERABU KESUMA

Used 161+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Total quantity of goods and services produced in the economy.

Aggregate Demand

Aggregate Supply

Leakages

Injections

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The equilibrium level of National Income in a closed economy is where:

MPC = APC

Consumption equals savings

Aggregate expenditure equal National Income.

Unemployment rate is about 3 percent of labour force.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economy with foreign trade is known as a/an ___.

open economy

closed economy

planned economy

laissez-faire economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Withdrawal from the income expenditure system.

Savings

Consumption

Investment

Leakages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Addition of spending to the income- expenditure system.

Leakage

Saving

Injection

Import

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Refers to the purchase of goods and services by individuals or households.

Investment

Export

Import

Consumption

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ratio of total consumption to total income.

Marginal Propensity to Consume (MPC)

Average Propensity to Consume (APC)

Average Propensity to Savings (APS)

Marginal Propensity to Savings (MPS)

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