The four components of aggregate spending are consumption, saving, imports, and taxes.

Equilibrium occurs when the aggregate demand curve intersects the aggregate supply curve.

Disposable Income (Billions of dollars per year)Total Consumption (Billions of dollars per year)$ 0$ 50200210 Refer to the table. What is the marginal propensity to consume?

A decline in total real output for two or more consecutive quarters is called

If the availability of credit increases, then

Investment represents

Refer to the figure. An increase in the cost of an input in the production process is best represented as a change from point

Which of the following will increase most during a recession?

Refer to the table. Year 1Year 5Working-Age Population200 million250 millionLabor Force110 million145 millionEmployed106 million135 million What is the number of unemployed in Year 1?

Refer to the figure. At what price level does equilibrium occur?