If the price of apples goes down, then the demand for pears will
A) increase, assuming apples and pears are substitutes.
B) decrease, assuming apples and pears are substitutes.
C) decrease, assuming apples and pears are complements.
D) remain constant, assuming apples and pears are related goods.
B
Economics
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The credit demand curve is the schedule that reports the relationship between the quantity of credit demanded and ________ in an economy, assuming all else equal
A) the average tax rate B) the annual inflation rate C) the nominal rate of interest D) the real rate of interest
Economics
For every 1 percentage point that the actual unemployment rate exceeds the natural rate, a 2 percentage point negative GDP gap occurs. This is a statement of:
A. Taylor's rule. B. Okun's law. C. Say's law. D. the Coase theorem.
Economics