question archive 1)The multiple by which an initial change in aggregate spending will alter total expenditure after an infinite number of spending cycles is the a)GDP gap

1)The multiple by which an initial change in aggregate spending will alter total expenditure after an infinite number of spending cycles is the a)GDP gap

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1)The multiple by which an initial change in aggregate spending will alter total expenditure after an infinite number of spending cycles is the

a)GDP gap.

b)Business cycle.

c)Velocity of money.

d)Multiplier.

2.A country's export ratio is

a)the ratio of the country's imports to its exports.

b)The ratio of net exports to net imports.

c)The ratio of imports to GDP.

d)the country's exports as a percentage of its GDP.

3.A country has a comparative advantage in a good if

a)It also has an absolute advantage in the production of the good.

b)It can produce a good at a lower opportunity cost relative to another country.

c)It can specialize only in two goods.

d)It can produce more of the good than another country.

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