The most important determinant of the decisions to lend or borrow is the real rate of interest
a. True
b. False
Indicate whether the statement is true or false
True
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When the plans of buyers and sellers are fully coordinated
A) the market clears. B) there is neither a shortage nor surplus of a good. C) quantity demanded equals quantity supplied. D) all of the above are true.
The profit earned by a monopolistic competitor after the entry of new firms is ________
A) higher than the profit earned by the firm before the entry of new firms B) lower than the profit earned by the firm before the entry of new firms C) equal to the profit earned by a monopolist in the long run D) higher than the profit earned by a perfect competitor in the long run
Refer to Table 10.1. Equilibrium real GDP for this economy is equal to
A) $5.75 billion. B) $12 billion. C) $23 billion. D) $46 billion.
The U.S. economy of the mid 1980s through 2007 is typically referred to as ________
A) "The Great Depression" B) "The Great Inflation" C) "The Great Moderation" D) all of the above E) none of the above