In Fisher's model of the determination of the rate of return, the price of a "future good" is:
a. less than the price of a current good if the interest rate is negative.
b. equal to the price of a current good if the interest rate is positive.
c. greater than the price of a current good if the interest rate is positive.
d. less than the price of a current good if the interest rate is positive.
d
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A sustained decrease in the price level is known as
A) inflation. B) disinflation. C) reflation. D) deflation.
Low voter turnout occurs because:
a. many potential voters underestimate the effect of their one vote b. many potential voters see the costs of voting as greater than the benefits c. many potential voters don't realize how much they benefit from voting d. all of the above
What organization emerged from the GATT, starting January 1, 1995, with expanded responsibilities and global interaction?
a. the Doha round b. the World Trade Organization c. the United Nations d. the Institute for International Economics
If the real wage is below the equilibrium real wage, there would be a ________ of workers and the real wage would ________
A) surplus; decline B) surplus; rise C) shortage; decline D) shortage; rise