A short-run decrease in real GDP will
a. increase the price of non-labor inputs, increase input requirements per unit of output, and increase the price level
b. increase the price of non-labor inputs, decrease input requirements per unit of output, and decrease the price level
c. decrease the price of non-labor inputs, decrease input requirements per unit of output, and decrease the price level
d. increase the price of non-labor inputs, decrease input requirements per unit of output, and increase the price level
e. decrease the price of non-labor inputs, increase input requirements per unit of output, and increase the price level
C
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An increase in demand could arise from which of the following factors
a. an increase in income b. a decrease in the price of a complement c. an increase in the price of a substitute d. all of the above
In order to calculate the real interest rate, simply:
A. add the rate of inflation to the nominal interest rate. B. divide the nominal interest earned by the rate of inflation. C. subtract the rate of inflation from the nominal interest rate. D. subtract the nominal interest rate from the rate of inflation.