The aggregate demand curve shows the relationship between short-run equilibrium output and the:
A. nominal interest rate.
B. unemployment rate.
C. inflation rate.
D. real interest rate.
Answer: C
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When a rich nation buys a product made in a poor nation, in the poor nation the demand for labor ________ and the wage rate ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
If there is a decline in world autonomous consumption ________
A) the domestic real interest rate would fall B) domestic investment would rise C) net exports would fall D) all of the above E) none of the above
All of the following are examples of public goods that government has assumed responsibility for over the years except
a. national parks b. interstate highways c. sewage systems d. street lighting e. stock exchanges
An explanation for the slowdown in U.S. productivity growth in the 1973-1995 period was higher oil prices caused by
a. the CIA. b. the WTO. c. the IMF. d. OPEC.