The real interest rate has a positive relationship with the supply of loanable funds
Indicate whether the statement is true or false
TRUE
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Suppose a country's net exports equal 0. If the volume of exports increases without any change in the volume of imports, the country will experience a ________
A) budget surplus B) budget deficit C) trade deficit D) trade surplus
The efficiency of monopolistic competition
A) is as clear-cut as the efficiency of perfect competition. B) depends on whether the gain from extra product variety offsets the selling costs and the extra cost that arises from excess capacity. C) comes from its excess capacity. D) is eliminated in the long run. E) is equal to that of monopoly.
According to economists, the fixed-price model of macroeconomic equilibrium depicts the modern economy most closely because it assumes that aggregate supply is independent of price
a. True b. False Indicate whether the statement is true or false
The "rule of 70" is a simple rule
a. (70 divided by the growth rate) that approximates the number of years it will take for income to double at various growth rates. b. (70 multiplied by the growth rate) that approximates the number of years it will take for income to double at various growth rates. c. (70 divided by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP. d. (70 multiplied by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP.