An industrially advanced country (IAC) is defined as a country with a GDP per capita among the top ____ countries in the world.
A. 10
B. 27
C. 39
D. 50
Answer: C
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Government spending plays no role in meeting our social and public needs.
Answer the following statement true (T) or false (F)
If the total money supply is $3 trillion, real GDP is $8 trillion and the price level is 1.5, then the equation of exchange tells us that velocity equals
A) 16. B) 3. C) 0.25. D) 4.
Which of the following is not considered an ultimate target that the monetary authority attempts to control?
a. Growth in real GDP b. The rate of unemployment c. The rate of inflation d. The money supply
According to liquidity preference theory, if the price level increases, then the equilibrium interest rate
a. rises and the aggregate quantity of goods demanded rises. b. rises and the aggregate quantity of goods demanded falls. c. falls and the aggregate quantity of goods demanded rises. d. falls and the aggregate quantity of goods demanded falls.