Refer to Table 22-4. In the table above, which countries are consistent with the predictions of the economic growth model?
A) Japan and Guatemala B) only Japan
C) Botswana and Thailand D) all four countries
C
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The money market model is concerned with ________ and the loanable funds market model is concerned with ________
A) short-term nominal interest rates; long-term real interest rates B) short-term nominal interest rates; long-term nominal interest rates C) short-term real interest rates; long-term nominal interest rates D) short-term real interest rates; long-term real interest rates
The amount of wealth that an individual wishes to hold as money is determined by
a. the price level b. the price level and real income c. real income d. real income and the interest rate e. the price level, real income, and the interest rate
Defenders of limits on economic growth are concerned that continued economic growth will eventually:
A. raise interest rates. B. make plant and equipment obsolete. C. exhaust natural resources. D. reduce the rate of technological progress.
When wages increase, the income effect of labor supply ________ the quantity of labor supplied because ________.
A. reduces; the price of leisure has increased B. reduces; workers acquire more of all normal goods (including leisure) when income increases C. increases; the value of working has increased D. increases; the price of leisure has increased