Other things constant, a reduction in the real interest rate will
a. cause consumers to cut back on their purchases of durable items like automobiles.
b. induce businesses to increase their level of investment.
c. increase the natural rate of unemployment.
d. increase the actual rate of unemployment.
B
Economics
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Refer to Table 4-7. If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor supplied?
A) 80,000 B) 550,000 C) 630,000 D) 1,180,000
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Assume that price exceeds average variable cost over the relevant range of demand
If a monopolistically competitive firm is producing at an output where marginal revenue is $111.11 and marginal cost is $118, then to maximize profits the firm should increase its output.
Economics