The market in which the equilibrium level of the interest rate is determined is the
A) money market.
B) goods market.
C) labor market.
D) services market.
Ans: A) money market.
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Revenue for the state governments in the United States comes primarily from income taxes
a. True b. False
When a second firm enters a monopolist's market:
A. the former monopolist's average cost decreases as its output level decreases. B. the demand curve the former monopolist faces shifts to the left. C. the market price rises as the average cost increases. D. None of these
The Keynesian theory is consistent with the business cycle fact that inflation is
A. countercyclical and leading. B. countercyclical and lagging. C. procyclical and lagging. D. procyclical and leading.
The equation for the quantity theory of money can be written as (M × Y = P × V).
Answer the following statement true (T) or false (F)