Which of the following is true?
A) The money market model is essentially a model that determines the short-term nominal rate of interest.
B) The money market model is essentially a model that determines the short-term real rate of interest.
C) The loanable funds model is essentially a model that determines the short-term real rate of interest.
D) The loanable funds model is essentially a model that determines the long-term nominal rate of interest.
Answer: A
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Refer to Table 8-17. What is nominal GDP in 2011?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
The absolute price elasticity of demand for a vertical demand curve
A) is infinite. B) is 1.0. C) is 0. D) depends on where one is on the demand curve.
Current discussions about the financing of congressional campaigns and presidential elections focus on the problem of
a. internalities b. externalities c. public goods d. public choice e. representation
By looking at the demand curves for perfectly competitive firms and for monopolies, you can see that ______.
a. monopolists can change price by adjusting quantity
b. perfectly competitive firms can change price by adjusting quantity
c. monopolists deal with perfectly elastic demand
d. perfectly competitive firms deal with downward sloping demand