An increase in
A) nominal output raises the interest rate while a fall in real output lowers the interest rate, given the price level and the money supply.
B) real output decreases the interest rate while a fall in real output increases the interest rate, given the price level.
C) real output raises the interest rate while a fall in real output lowers the interest rate, given the money supply.
D) nominal output raises the interest rate while a fall in real output lowers the interest rate, given the price level.
E) real output raises the interest rate while a fall in real output lowers the interest rate, given the price level and the money supply.
E
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Countries with high real GDP tend to have ________ infant mortality rates and ________ literacy rates than countries with low real GDP.
A. lower; higher B. higher; higher C. higher; lower D. lower; lower
Tammy sells woolen hats in a perfectly competitive market. The marginal cost of producing 1 hat is $24. The marginal cost of producing a second hat is $26 and the marginal cost of producing a third hat is $28. The market price of a hat is $26
To maximize profit, Tammy produces ________ per day. A) 1 hat B) 3 hats C) 2 hats D) as many hats as possible
Do the assumptions of the perfectly competitive model describe all real-world markets? Explain
What will be an ideal response?
Which country has the highest level of income inequality?
a. Brazil b. Russia c. China d. India