According to Figure 5.1, the real interest rate is relatively low in ________
A) Brazil
B) Turkey
C) Argentina
D) Japan
E) Indonesia
B
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In a perfectly competitive market, the market clearing price:
A) is always equal to the equilibrium price. B) is unrelated to the equilibrium price. C) is always lower than the equilibrium price. D) is always higher than the equilibrium price.
The opportunity cost of an action is
a. the monetary payment the action required. b. the total time spent by all parties in carrying out the action. c. the value of the best opportunity that must be sacrificed in order to take the action. d. the cost of all alternative actions that could have been taken, added together.
If people expect the price of packaged coffee to rise next week, coffee demand will:
A. decrease now. B. increase now. C. stay the same now and increase next week. D. stay the same now and decrease next week.
In order to ________, a government must increase spending and decrease taxation.
A. increase aggregate demand B. decrease aggregate demand C. increase aggregate supply D. decrease aggregate supply