The aggregate demand curve is
A. vertical.
B. U shaped.
C. horizontal.
D. downward sloping.
Answer: D
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Going to college to get more knowledge and skills is considered to be an increase in
A) physical capital. B) consumption. C) human capital. D) net exports.
The rule of 70 is: a. the ratio of 70 to the growth rate of a nation
b. the sum of 70 and the growth rate of a nation. c. the difference between 70 and the growth rate of a nation. d. the product of 70 and the growth rate of a nation.
If the reserve ratio is 8 percent, then a decrease in reserves of $6,000 can cause the money supply to fall by as much as
a. $48,000. b. $75,000. c. $55,200. d. $10,800.
Which of the following is the most realistic example concerning economic policy?
a. An economist accurately predicts how unemployment rates will change next year. b. An economist knows if the money supply increases 3 percent, interest rates will decrease 3 percent. c. An economist predicts the exact effect an expansionary policy will have. d. An economist believes interest rates will increase next year but is not absolutely sure.