The short run in macroeconomics is the period in which:
A. prices change significantly.
B. no contracts or agreements exist to fix prices.
C. demand determines output.
D. the demand curve is vertical.
Answer: C
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Money functions as a(n)
A) medium of exchange. B) unit of account. C) store of value. D) all of the above.
Investment banks are vulnerable because
A) the maturity of their liabilities is less than the maturity of their assets. B) the maturity of their assets is less than the maturity of their liabilities. C) they tend to be underleveraged. D) they tend to primarily hold short-term assets.
To find the Real interest Rate
What will be an ideal response?
If the demand curve for product B shifts to the right as the price of product A declines, then:
A. A is a superior good and B is an inferior good. B. both A and B are inferior goods. C. A is an inferior good and B is a superior (or "normal") good. D. A and B are complementary goods.