Refer to the information. The data suggest that:
Answer the question below on the basis of the following information for a private closed economy:
A. the interest rate and the equilibrium GDP are directly related.
B. the interest rate and the equilibrium GDP are inversely related.
C. the interest rate and the equilibrium GDP are unrelated.
D. as the interest rate falls, investment also falls.
B. the interest rate and the equilibrium GDP are inversely related.
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An indifference curve shows
A) the relationship between prices and a household's budget. B) all possible prices and preferences for a good. C) combinations of goods among which a household is indifferent. D) budget lines among which a consumer is indifferent.
In July 2011, $1 was worth 45 Indian rupees and in July 2012, $1 was worth 55 Indian rupees. We can therefore conclude that
A) the Indian rupee depreciated. B) the Indian rupee appreciated. C) the U.S. dollar has depreciated. D) the value of the U.S. dollar has fluctuated.
If Tony receives a pay raise and the price effect outweighs the income effect on his labor supply decisions, he will:
A. work more hours. B. work less hours. C. work the same hours no matter what. D. quit and not work at all.
Prior to 1877 business could not be regulated by the states because of:
a. lack of public support b. the fifth amendment c. the 10th amendment d. the due process clause e. all of the above