According to the interest rate effect, as the price level:
a. rises, people feel poorer and buy less.
b. rises, United States products become more expensive and foreigners buy less U.S. goods.
c. rises, interest rates fall, and people buy less.
d. rises, interest rates rise, and people buy less.
e. falls, interest rates fall, and people buy less.
d
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Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?
A) the social marginal cost of harvesting salmon B) the social marginal benefit of harvesting salmon C) the private marginal cost of harvesting salmon D) the private marginal benefit of harvesting salmon
Calculate the following probabilities using the standard normal distribution. Sketch the probability distribution in each case, shading in the area of the calculated probability
(a) Pr(Z < 0.0) (b) Pr(Z ? 1.0) (c) Pr(Z > 1.96) (d) Pr(Z < –2.0) (e) Pr(Z > 1.645) (f) Pr(Z > –1.645) (g) Pr(–1.96 < Z < 1.96) (h.) Pr(Z < 2.576 or Z > 2.576) (i.) Pr(Z > z) = 0.10; find z. (j.) Pr(Z < –z or Z > z) = 0.05; find z. What will be an ideal response?
What is the total profit to the monopolist from selling the goods separately?
a. $4,500 b. $6,300 c. $7,000 d. $6,200
For the past several decades, the percentage of national income in the United States allocated to physical capital (rents, interest, profit) has been approximately
a. 20 percent. b. 40 percent. c. 60 percent. d. 80 percent.