A decrease in the interest rate, other things being equal, causes a(n):
a. upward movement along the demand curve for money.
b. downward movement along the demand curve for money.
c. rightward shift of the demand curve for money.
d. leftward shift of the demand curve for money.
b
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Economists are interested in long-term economic growth because growth increases real GDP per person and improves our standard of living
Indicate whether the statement is true or false
Production technology determines the relationship of total cost to outputs
a. True b. False Indicate whether the statement is true or false
A firm that produces a good with many substitutes will most likely find that:
A. lowering its price will increase total revenue. B. raising its price will increase total revenue. C. lowering its price will decrease total revenue. D. lowering its price will not affect total revenue.
In terms of purchasing power, the real minimum wage has ________ since 1997.
A. fallen B. stayed the same C. risen