Which of the following statements about a supply curve is FALSE?
A) It shows a direct (positive) relationship between price and quantity supplied.
B) It shows the quantity supplied at each specific price.
C) It typically slopes downward to the right.
D) It has a positive slope.
C
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If the nominal interest rate is 5.6% and inflation rate is 2.4%, the real interest rate is ________
A) 4% B) 3.2% C) 6.4% D) 8%
If merchants in the country Zed choose to close their doors, preferring to be stuck with rotting merchandise rather than worthless currency, then one can conclude that Zed is experiencing a
A) superdeflation. B) hyperdeflation. C) disinflation. D) hyperinflation.
If the real value of an item bought ten years ago is less than it's nominal value at that time, what can one infer about the change in the overall price level during this ten year period?
Figure 7-7
In Figure 7-7 at 100 units, FC equals
a.
1,000.
b.
1,800.
c.
800.
d.
80.