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11) The 2009 fiscal stimulus package did not work ________. A) in that the IS curve did not shift to the right B) because most of the intended increase in government spending took too long to kick in C) because the increase in government spending was not enough to offset the decline in autonomous expenditure D) all of the above E) none of the above 12) The 2009 fiscal stimulus package did not work ________. A) because rising interest rates nullified increased expenditures B) because government spending rose too quickly and too briefly C) but it probably prevented the IS curve from shifting further to the left D) all of the above E) none of the above 13) Qualitatively, an increase in government purchases has the same impact as an increase in autonomous ________. A) consumption B) investment C) net exports D) all of the above E) none of the above 14) In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to an increase in the equilibrium level of ________. A) investment; consumption B) consumption; investment C) net exports; investment D) all of the above E) none of the above 15) In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to an increase in the equilibrium level of ________. A) investment; net exports B) consumption; government purchases C) net exports; taxes D) all of the above E) none of the above 16) In the IS model, assuming that the real interest rate does not change, an increase in autonomous net exports causes total investment, planned plus unplanned, to ________. A) fall, then rise back to its initial level B) fall, then rise above its initial level C) rise, then fall back to its initial level D) all of the above E) none of the above 17) In the IS model, assuming that the real interest rate does not change, an increase in ________ leads to an increase in equilibrium saving by households. A) autonomous investment B) government purchases C) autonomous net exports D) all of the above E) none of the above 18) In the IS model, assuming that the real interest rate does not change, an increase in ________ leads to an increase in equilibrium saving by households. A) autonomous consumption B) taxes C) the price level D) all of the above E) none of the above 19) In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to a decrease in equilibrium saving. A) investment B) consumption C) net exports D) all of the above E) none of the above 20) An increase in autonomous consumption ________. A) lowers planned expenditures B) raises equilibrium output for any level of the interest rate C) causes a movement down along the IS curve D) all of the above E) none of the above

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