The nominal interest rate is
A) the interest rate measured in terms of goods.
B) always less than the real interest rate.
C) equal to the real interest rate minus the rate of inflation.
D) the type of interest rate typically reported in the financial pages of newspapers.
E) equal to the expected rate of inflation.
D
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Companies spend ____ on pricing decisions
A) too much time B) the right amount of time C) too little time D) too much money
Suppose a perfectly competitive firm wants to increase its level of output profitably. To do this, the firm needs to
a. find a way to lower its marginal cost. b. should raise its price to sell any additional output. c. should lower its price to sell any additional output. d. will not be able to sell the additional output at any price because of the many other competitive firms that exist.
An answer to the question "For whom" determines:
A) tastes and preferences. B) how resources are combined in production. C) the kinds and quantities of goods produced. D) who gets the goods and services produced.
Over time in a growing economy, the long run aggregate supply curve will
A. become increasingly steep. B. move so as to match the short run aggregate supply (SRAS) curve. C. shift inward to the left. D. shift outward to the right.