Refer to the table above. If gross investment is $12 billion, the equilibrium level of GDP will be:
Refer to the table above. If gross investment is $12 billion, the equilibrium level of GDP will be:
A. $260 billion
B. $270 billion
C. $280 billion
D. $290 billion
C. $280 billion
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Fiat money is
a. money with intrinsic value like gold coins. b. anything that serves as a means of payment by government declaration. c. any currency made of paper. d. a tangible asset like a house. e. money that is backed by gold.
Which one of the following statements best describes a price ceiling?
a. A price ceiling causes demand to change. b. A price ceiling causes supply to change. c. A price ceiling keeps a price from rising above a certain level. d. A price ceiling keeps a price from falling below a certain level.
A political leader suggesting that the country "stay the course" in the face of an economic downturn because things will be potentially made worse if tax and spending policies are adopted, is, by implication, suggesting ________ is better.
A. Discretionary Fiscal Policy B. Trade policy C. Regulatory changes D. Nondiscretionary Fiscal Policy
Why does a high interest rate discourage people from holding their money in cash?
(A) They are fearful of inflation. (B) They cannot be sure that cash will hold its value. (C) They are more concerned that it will be stolen. (D) They can earn interest on the cash if it is invested.