Keynesian economics focuses on the role of aggregate spending in determining the level of real GDP
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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According to the quantity theory of money, if the growth rate of money supply is 6% and the growth rate of real GDP is 9%, then the growth rate of nominal GDP in the economy will be:
A) 9%. B) 6%. C) 3%. D) 15%.
Economics
The implicit rental rate for capital is
A) an accounting cost. B) part of the firm's normal profit. C) an opportunity cost. D) a cost that is irrelevant to the business.
Economics