Given the level of real GDP, the equilibrium level of the interest rate depends on the
A) demand for money.
B) monetary-fiscal policy mix.
C) size of the multiplier.
D) extent of crowding out.
B
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The growth rate in potential GDP is equal to the growth rate in the population.
Answer the following statement true (T) or false (F)
From 1865 to 1910, the U.S. share of world trade was
(a) nonexistent. (b) miniscule. (c) disproportionately small compared to the British. (d) disproportionately high compared to the U.S. population.
Refer to the above figure. A price ceiling has been set at P1, and a black market has opened. The equilibrium black market quantity will be
A. Q2. B. between Q1 and Q3. C. above Q3. D. below Q1.
As new substitutes for office productivity software are developed, the demand for workers in office productivity software production should
A) become more elastic. B) become less elastic. C) be unchanged. D) change in an undetermined way.