If spending in an economy increases by 3% and real GDP increases by 1%, the result will be:
What will be an ideal response?
Inflation
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The total interest that a borrower has to pay on a loan is equal to the:
A) principal plus the rate of interest. B) principal divided by the rate of interest. C) principal minus the rate of interest. D) principal times the rate of interest.
A debtor nation means a nation
A) whose imports exceeds its exports. B) whose current account is less than its capital account. C) who—through its history—has invested less in the rest of the world than other countries have invested in it. D) whose current lending to the rest of the world exceeds its borrowing from the rest of the world.
Below the short-run shutdown price, the firm
A) is earning positive economic profits. B) is earning negative economic profits. C) is making a normal rate of return on its capital investment. D) may be earning a positive or negative economic profits depending upon costs.
When you care more about what your friends think of a good or service than what experts or other consumers in general think, you are making the error of ______.
a. assuming complete self-control b. choosing options that are positively framed c. giving too much weight to a small sample d. valuing your personal property too highly