According to the classical economists, if the quantity of money that people wanted to save was less than the amount that people wanted to invest,
A. the interest rate would fall.
B. the interest rate would rise.
C. this situation would cause hyperinflation.
D. this situation would cause stagflation.
B. the interest rate would rise.
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The short-run aggregate supply curve is a relationship between
A) real GDP and price level. B) capital goods and consumer goods. C) unemployment and real GDP. D) inflation and time.
When Ryan has an income of $2,000 . he consumes 30 units of good A and 50 units of good B. After Ryan's income decreases to $1,500, he consumes 23 units of good A and 55 units of good B. Which of the following statements is correct?
a. Both goods A and B are normal goods. b. Both goods A and B are inferior goods. c. Good A is a normal good, and good B is an inferior good. d. Good A is an inferior good, and good B is a normal good.
We will keep buying digital music downloads from the Internet until the marginal utility of the music downloads
A. rises to the price of the download. B. falls to the price of the download. C. is greater than the price of the download. D. is less than the price of the download.
Control of an essential resource and the economies of being established are _________ that protect monopolies.
Fill in the blank(s) with the appropriate word(s).