Short-run contractions and expansions in economic activity are called
A) recessions.
B) expansions.
C) deficits.
D) the business cycle.
D
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The demand for money curve is drawn
A) holding several things constant, including the price level and interest rates. B) with interest rates on the vertical axis and the curve sloping down since lower interest rates mean the "price" of holding money has fallen. C) holding several things constant, including GDP and interest rates. D) with interest rates on the horizontal axis, and the curve sloping up since the "price" of holding money varies directly with the interest rate.
A perfectly competitive firm faces a demand curve that is
A) horizontal. B) vertical. C) perpendicular to the quantity axis. D) perfectly inelastic.
The beta for an asset considered to be risk-free:
A. can be any positive number. B. is negative. C. equals zero. D. equals 1.
An increase in the price of corn will lead to
A) an upward (and leftward) movement along the demand curve for corn. B) a leftward shift in the demand curve for corn. C) a rightward shift in the supply curve for corn. D) an increase in the quantity of corn consumed.