Lesson 7 ConcepTest
In each lesson, you’ll have an opportunity to practice some of the concepts, calculations, or techniques presented in the lesson. This ConcepTest will give you practice with the following:
Drawing an aggregate expenditure function and altering it based on a given scenario
Determine how changes in one component of aggregate expenditure
Calculating the following:
Unplanned changes in inventories
MPC
MPS
The value of the equilibrium real GDP
Autonomous consumption
Multipliers
Procedure
Document (docx).
Work through the problems in the Word document.
Save your work to your computer.