People who live in countries with ________ average incomes generally live ________ lives.
A. higher; shorter
B. higher; more meaningful
C. lower; longer
D. lower; shorter
Answer: D
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Which of the following decreases the demand for money?
A) an increase in the price level B) an increase in the quantity of money C) a decrease in real GDP D) a decrease in the cost of printing money
In the money market, an excess demand for money is equivalent to an excess demand for bonds
Indicate whether the statement is true or false
The market interest rate is important to the investment decision of firms: a. only when funds are borrowed from financial intermediaries. b. only when firms have the money to invest in capital. c. regardless of whether funds must be borrowed or firms have the funds on hand. d. only when firms have funds on hand and are ready to lend them
e. only when firms purchase new equipment rather than a new building.
Answer the following statement(s) true (T) or false (F)
1. The formula for calculating aggregate demand is the same formula used to calculate GDP using the expenditure approach. 2. The aggregate demand and aggregate supply model is a closed economy model because it includes international trade effects. 3. An inverse relationship exists between the quantity of real GDP demanded and the overall price level. 4. The aggregate demand curve is downward sloping. 5. Purchasers in the economy demand more real output when the price level rises.