If the government decides to build a new highway, the first step would be to conduct a study to determine the value of the project. The study is called a
a. budget analysis.
b. project analysis.
c. reimbursement analysis.
d. cost-benefit analysis.
d
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According to the interest rate effect, as the price level increases, households and firms' holdings of money ____, interest rates ____, investments ____, and the quantity RGDP demanded ____
a. increases, decrease, increase, decreases b. increases, increase, increase, decreases c. decreases, decrease, decrease, increases d. increases, increase, decrease, decreases
Price ________ measures the responsiveness of the quantity of a good demanded or supplied to a change in its price.
a. setting b. elasticity c. locking d. consistency
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
If the dollar appreciates in value relative to foreign currencies, aggregate demand ________.
A. increases because net exports increase B. decreases because consumption decreases C. decreases because net exports decrease D. increases because consumption increases