When the investment is graphed as a function of real GDP
A) it graphs as a vertical straight line.
B) it graphs as a 45-degree line starting at the indicated level of investment.
C) it graphs as a negatively sloped line indicating the inverse relationship between interest rates and investment.
D) it graphs as a horizontal straight line at the level of investment.
D
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The opportunity cost of attending college might best be described as
A) the money that must be paid in order to attend college. B) the lowest-valued alternative use of the student's time. C) the highest-valued alternative use of the student's time. D) the value that the student attaches to not working.
When the price of a good rises, there is
A) an increase in supply. B) a decrease in supply. C) a decrease in quantity supplied. D) an increase in quantity supplied.