The amount of profit necessary to keep the entrepreneur operating is known as
a. normal profit.
b. economic profit.
c. variable profit.
d. explicit profit.
a. normal profit.
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Which of the following changes will shift the money demand rightward?
a. An increase in the price level b. A decrease in real GDP c. A decrease in the nominal interest rate d. An increase in the nominal interest rate e. A decrease in the price level
All natural resources are nonrenewable
Indicate whether the statement is true or false
Because monetary stimulus overwhelmed fiscal contraction in the United States during the 1992–2000 period,
A. real GDP grew. B. real GDP decreased. C. the rate of inflation increased. D. the budget deficit increased.
If Spain has a trade deficit, then
a. foreign countries purchase more Spanish assets than Spain purchases from them. This makes Spanish saving greater than Spanish domestic investment. b. foreign countries purchase more Spanish assets than Spain purchases from them. This makes Spanish saving smaller then Spanish domestic investment. c. foreign countries purchase fewer Spanish assets than Spain purchases from them. This makes Spanish saving greater than Spanish domestic investment. d. foreign countries purchase fewer Spanish assets than Spain purchases from them. This makes Spanish saving greater than Spanish domestic investment.