Between 2008 and 2009, U

question 533

Multiple Choice

Between 2008 and 2009, U.S. real GDP decreased from $13.2 trillion to $12.9 trillion. As a result, the real demand for money ________and the demand for money curve_________ .

• A) decreased; shifted rightward.
• B) did not change; did not shift
• C) increased; shifted leftward
• D) decreased; shifted leftward

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Definitions:

Outstanding Balance

The amount of money owed that remains in a borrower's account, excluding interest and fees, that has not yet been paid.

Invoice

A document issued by a seller to a buyer, indicating items sold, prices, date of shipment, delivery and payment terms.

Payment

The act of giving money in exchange for goods or services.

EOM

End of Month, a term often used in the context of finance and accounting to denote processes or evaluations performed at the close of the month.