Three macroeconomic factors that affect the demand for money are:

A. capital, labor, and technology.
B. the nominal interest rate, capital, and labor.
C. globalization, skill-biased technological change, and labor mobility.
D. the nominal interest rate, real income, and the price level.


Answer: D

Economics

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For a particular good, a 10 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?

a. The relevant time horizon is short. b. The good is a luxury. c. The market for the good is narrowly defined. d. There are many close substitutes for this good.

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In 1998 the Russian government defaulted on its bonds. According to the open-economy macroeconomic model, this should have

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If large fixed costs result in ATC falling as output increases and this occurs over the relevant range of output, this industry is a:

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Economics