From the economic point of view, what does a professor who posts her syllabus on the Internet and a restaurant that posts its menu outside have in common?
A) They are attempting to exploit others.
B) They are reducing competition.
C) They are expanding the range of opportunities available to others.
D) They are solely in it for the money.
C
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When the interest rate falls, the
A. transactions demand for money increases. B. total amount of money demanded decreases. C. asset demand for money decreases. D. total amount of money demanded increases.
Slowdonia's current growth rate of real GDP per person is 1 percent a year. Approximately how long will it take to double real GDP per person?
A) 10 years B) 35 years C) 70 years D) 100 years
Keynes thought that one macroeconomic problem is that an economy: a. can tend toward an equilibrium level of output that is below the potential level
b. will move back to its potential after a business cycle on its own. c. always operates at the potential and business cycles are created by government intervention. d. can be pushed below the equilibrium level of output by fiscal policy. e. can be pushed away from the potential if prices and wages are flexible.
An increase in aggregate demand is most likely to result in
a. inflation. b. recession. c. economic stagnation. d. a decrease in real GDP.