According to the classical dichotomy, which of the following is influenced by monetary factors?
a. real GDP
b. unemployment
c. nominal interest rates
d. All of the above are correct.
c
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The Age of the great industrial capitalist was
A. the first quarter of the 19th century. B. the second quarter of the 19th century. C. the third quarter of the 19th century. D. the fourth quarter of the 19th century.
A common resource is used efficiently if
A) the output is maximized. B) marginal social benefit equals marginal social cost. C) marginal private benefit equals marginal private cost. D) marginal social benefit is maximized.
If, in response to a decrease in the price of grapes, the quantity of grapes demanded increases, economists would describe this as
A) a change in consumer income. B) an increase in quantity demanded. C) an increase in consumers' taste for grapes. D) an increase in demand.
If the federal government borrows from the private sector to pay for increased budget deficits and interest rates increase, this will cause
A) a decrease in planned investment and planned consumption. B) an increase in planned investment and planned consumption. C) a decrease in planned investment and an increase in planned consumption. D) an increase in planned investment and a decrease in planned consumption.