If there were no usury law, the interest rate would be ________%.
A. 18
B. 20
C. 23
D. 26
B. 20
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An aggregate supply curve depicts the relationship between
A) the price level and the quantity of nominal GDP supplied. B) household expenditures and household income. C) the price level and the quantity of real GDP supplied. D) the money wage rate and the quantity of real GDP supplied.
What has happened to resource prices in the twentieth century and what do they reveal about resource scarcity?
Suppose nominal GDP equaled $10,988 billion while the M2 money supply was $6,063 billion. What was the velocity of the M2 money stock?
A. 0.45 B. 0.55 C. 1.81 D. 2.36
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs. B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs. C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs. D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.