Slope is calculated as rise / run.
Answer the following statement true (T) or false (F)
True
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According to the classical model, investment
A) is a function of the nominal GDP. B) is inversely related to the interest rate. C) is a function of real GDP. D) is influenced by the money illusion at low income levels.
The concept of price elasticity is applied to changes in:
A. quantity demanded, but not quantity supplied. B. quantity supplied, but not quantity demanded. C. both quantities supplied and quantity demanded. D. neither quantity supplied nor quantity demanded.
Which of the following sequences results from an increase in the price level?
a. the money demand curve shifts leftward, the interest rate decreases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts downward and there is a leftward movement along the aggregate demand curve. b. the money demand curve shifts rightward, the interest rate increases, investment spending and autonomous consumption decrease, the aggregate expenditure line shifts downward and there is a leftward movement along the aggregate demand curve. c. the money demand curve shifts leftward, the interest rate increases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts downward and there is a leftward movement along the aggregate demand curve. d. the money demand curve shifts leftward, the interest rate drops, investment spending and autonomous consumption decrease, the aggregate expenditure line shifts downward and there is a leftward movement along the aggregate demand curve. e. the money demand curve shifts rightward, the interest rate increases, investment spending and autonomous consumption increase, the aggregate expenditure line shifts downward and there is a rightward movement along the aggregate demand curve.
A tradeoff exists between a clean environment and a higher level of income in that
a. studies show that individuals with higher levels of income actually pollute less than low-income individuals. b. efforts to reduce pollution typically are not completely successful. c. laws that reduce pollution raise costs of production and reduce incomes. d. by employing individuals to clean up pollution, employment and income both rise.