True and false 1. When the average price level in the United States, relative to

Question

True and false 1. When the average price level in the United States, relative to the average price levels in other countries, rises, this tends to raise imports and lower exports. 2. A decrease in real disposable income will shift the autonomous net export function downward. 3. If current aggregate expenditure equals current production, the economy is in equilibrium. 4. If the marginal propensity to consume is 0.8, the value of the simple multiplier is 4. 5. In the long run, aggregate supply curve is vertical. 6. When current real production of goods and services (real GDP) is greater than planned aggregate expenditure inventories of goods and services are rising.

Explanation / Answer

1 .True 2. True 3 . Fsalse 4. True 5 . False 6. False

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