The nominal interest rate is determined in the:
A. stock market.
B. money market.
C. exchange market.
D. bond market.
Answer: B
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What do the Monetarist and Keynesian economists claim was the main cause of the Great Depression?
(a) A contraction in supply (b) A downturn in demand (c) The falling federal deficit (d) All of the above
Jim, an avid biker, broke his leg last year and will never be able to use his bike again. He was offered $100 for it last year, but Jim refused to sell it, insisting it was worth more. A year later, he's offered only $75 for it, but Jim still refuses to sell it. Jim's behavior could be explained by:
A. limited processing power. B. the endowment effect. C. status quo bias. D. substitution effect.
A local restaurant offers an "all you can eat" Sunday brunch for $12. Susan eats four servings but leaves half of a fifth helping uneaten. Why?
What will be an ideal response?
Economic growth is only possible if the long-run aggregate ______ curve shifts to the ______.
A. supply; right B. supply; left C. demand; right D. demand; left