There is a negative relationship between the price level and which components of GDP?
A. C, G, and NX
B. C, I, and G
C. C, I, and NX
D. I, G, and NX
Answer: C
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Compound interest is:
A. the payment of interest on the original deposit. B. the payment of interest on both the original deposit and all accumulated interest. C. the interest rate adjusted for the rate of inflation. D. the real rate of interest compounded by the rate of inflation.
Conditions that likely contributed to a credit crunch during the global financial crisis include
A) capital shortfalls caused in part by falling real estate prices. B) regulated hikes in bank capital requirements. C) falling interest rates that raised interest rate risk, causing banks to choose to hold more capital. D) increases in reserve requirements.
The U.S. Postal Service has a monopoly over first-class mail service because
A) the government has granted this agency a public franchise. B) stamps are copyrighted. C) stamps are trademarked. D) stamps are patented. E) it owns a vital resource, namely all mailboxes.
What are the main determinants of demand elasticity? Explain their importance.
What will be an ideal response?