The quantity of real GDP rises with the price level, ceteris paribus.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 2Which of the following statements is true?
a. The speculative demand for money at possible interest rates gives the demand for money curve its upward slope.
b. There is an inverse relationship between the quantity of money demanded and the interest rate.
c. According to the quantity theory of money, any change in the money supply will have no effect on the price level.
d. All of these.
QUESTION 3Which of the following groups of people are members of the labor force?
a. People in prison.
b. Full-time students.
c. People over 16 years of age who are employed.
d. Anyone not actively looking for work during the past 30 days.
QUESTION 4An increase in total spending in the economy will shift the aggregate demand curve to the left.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 5The demand for money curve shows that there is an inverse relationship between the quantity of money demanded and the:
a. quantity of money supplied.
b. gross domestic product (GDP).
c. price level.
d. interest rate.
QUESTION 6Which one of the following persons would be considered unemployed?
a. A person not working who has given up searching for a job.
b. A part-time worker looking for a full-time job.
c. A construction worker who was laid off due to cold weather.
d. A full-time college student who is not a member of the labor force.
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