In the classical model the interest rate is determined by
a. real investment demand.
b. real saving.
c. government spending.
d. tax revenues.
e. all of the above.
E
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What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?
What will be an ideal response?
The above figure shows the market demand curve for long-distance telephone calls
Suppose the marginal cost of a long-distance telephone call is 2ยข a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry. If the firms in the industry operate as perfect competitors, there are ________ minutes of calls made per hour. A) between 0 and 3 million B) more than 3 million and less than or equal to 5 million C) more than 5 million and less than or equal to 7 million D) more than 7 million and less than or equal to 9 million E) more than 9 million