Choices must be made in the use of resources
a. because they are in finite supply
b. because they are in finite demand
c. only if the resources are nonrenewable
d. only if the resources are renewable
e. because they are in infinite supply
A
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Everything else remaining unchanged, what is likely to happen to the equilibrium real interest rate and quantity of credit if the credit demand curve shifts to the right?
A) Both equilibrium rate of interest and quantity of credit will decrease. B) The equilibrium rate of interest will decrease and the quantity of credit will increase. C) Both equilibrium rate of interest and quantity of credit will increase. D) The equilibrium rate of interest will increase and the quantity of credit will decrease.
Marginal benefit refers to the additional benefit that your activity provides to you
Indicate whether the statement is true or false
According to rational expectations,
A) the Fed should focus its policies on interest rates. B) the Fed should focus its policies on inflation. C) the Fed should focus its policies on unemployment. D) the Fed is unable to influence real economic activity.
If the correlation between GDP and y is 0.55, we say y is
A) procyclical. B) acyclical. C) countercyclical. D) tricyclical.