The aggregate demand curve shows the relationship between the ________ and ________
A) price level; quantity of real GDP demanded
B) real interest rate: quantity of real GDP supplied
C) nominal interest rate; quantity of real GDP demanded
D) inflation rate; quantity of real GDP demanded
A
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Starting from equilibrium and using the ISLM framework, an increase in investment leads to
A) lower interest rates and higher income. B) higher interest rates and higher income. C) lower interest rates and lower income. D) higher interest rates and lower income.
Paul Bergeron and Virginia Clacey each own a 100-acre soybean farm in Soyburg, Illinois. Together they grow 1/1,000th of 1 percent of the nation's soybeans. When they merge, it will
a. raise the price of soybeans in the U.S. b. be a vertical merger c. reduce competition in the soy market d. increase the market power of Paul and Virginia e. probably go unnoticed outside of Soyburg
The field of political economy applies the methods of
a. psychology to study how the economy works. b. political science to study how the economy works c. economics to study how government works. d. psychology to study how government works.
The members of the Federal Reserve Board:
A. serve seven-year terms. B. are appointed by the American Economic Association. C. are elected by votes of the 12 presidents of the Federal Reserve Banks. D. are appointed for 14-year terms.