The long-run aggregate supply curve shows the relationship between the ________ and ________
A) inflation rate; quantity of real GDP demanded
B) real interest rate; quantity of real GDP supplied
C) nominal interest rate; quantity of real GDP supplied
D) price level; quantity of real GDP supplied
Answer: D
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What can explain the fact that DVD players decreased in price during the 1990s even as more DVD players were being sold?
A) The demand for DVDs was declining. B) The supply of DVD players was decreasing. C) The supply of DVD players was increasing more than the demand for DVD players. D) The demand for DVD players was increasing more than the supply of DVD players.
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.