The aggregate demand curve of an economy illustrates the relationship between _____
Fill in the blank(s) with the appropriate word(s).
the price level and real gross domestic product (GDP).
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If there is an increase in taxes on business firms in a small open economy, it causes the current account to ________ and the equilibrium quantity of saving to ________
A) fall; fall B) rise; remain unchanged C) fall; remain unchanged D) rise; fall
The interest rate at which commercial banks lend to their customers with the best collateral is known as
a. prime rate. b. federal funds rate. c. discount rate. d. T-bill rate.
If a corporation does not distribute profit to its stockholders, it might be that
a. no profit was earned by the corporation b. profit was used to pay out dividends c. the corporation has no stockholders d. its losses were as large as its profit e. profit was used to pay its board of directors, the first claimants to corporate profit
On June 3, 2005, it cost 1.22 U.S. dollars to buy one euro. How many euros did it take to buy one U.S. dollar?
a. 0.82 euros b. 0.88 euros c. 1.22 euros d. 88 euros