QUESTION 23 For economists, money is O a medium of exchange a store of value a u

Question

QUESTION 23 For economists, money is O a medium of exchange a store of value a unit of account All of the above QUESTION 24 If inflation is 10 percent per year and you receive a 20 percent raise in income, then your O Real and nominal incomes both fall Real and nominal incomes both rise Real income falls, but nominal income rises Real income rises, but nominal income falls QUESTION 25 Typically, one could add economic growth to the AD AS model by showing The AD curve, AS curve, and maximum capacity all shifting to the right The AD curve shifting right, while the AS curve remains the same O The AS curve shifting right, while the AD curve remains the same The AD curve remaining the same, while the AS and maximum capacity shift leftward. QUESTION 26 According to the Keynesian macroeconomic model, consumption is a function of which three variables? Autonomous consumption. Intended investment, and the marginal propensity to consume Autonomous consumption, the marginal propensity to consume, and income. Autonomous consumption, actual investment, and the marginal propensity to consume The marginal propensity to consume, income, and actual investment

Explanation / Answer

Q23. All of the above.

Q24.b) real and nominal income both rise.

Q25.a) the AD curve AS curve ,and maximum capacity all shifting to the right.

Q26.b) autonomous consumption, the marginal propensity to consume, and income.

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