The variable that links the market for loanable funds and the market for foreign-currency exchange is
a. net capital outflow.
b. national saving.
c. exports.
d. domestic investment.
a
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The interest rate effect is part of the reason
A) the long-run aggregate supply curve is vertical. B) the aggregate demand curve is downward sloping. C) the short-run aggregate supply curve is upward sloping. D) the aggregate demand curve is upward sloping.
Leisure is
A) wasteful to society. B) an inferior good. C) a complementary good to labor. D) a normal good.
Long-run full-employment equilibrium assumes: a. a downward-sloping production function. b. a downward-sloping long-run supply curve (LRAS)
c. the CPI index price level equals the equilibrium wage rate. d. the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equals long-run aggregate supply (LRAS).
When economists refer to the role of money as a unit of account, they mean that
A) most accounting systems reflect that goods are purchased with currency. B) most accounting systems reflect that goods are purchased with checks. C) money gives traders a way of measuring value in the economy. D) money makes it possible for specialization to take place.