If the government raises government expenditures, then in the short run prices
a. rise and unemployment falls.
b. fall and unemployment rises.
c. and unemployment rise.
d. and unemployment fall.
a
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In the long run, the real interest rate is 3 percent, real GDP grows at 4 percent, velocity is constant, and the quantity of money grows at 8 percent. The nominal interest rate is
A) 7 percent. B) 12 percent. C) 10 percent. D) 8 percent. E) 6 percent.
An economy using money is more efficient that a barter economy because the use of money reduces the time spent searching for trading partners with a coincidence of wants and therefore more time can be spent producing goods and services
a. True b. False Indicate whether the statement is true or false
France uses civil law
a. True b. False
Consumer surplus is the amount a buyer actually has to pay for a good minus the amount the buyer is willing to pay for it
a. True b. False Indicate whether the statement is true or false