The law of supply indicates that, other things equal:
A. producers will offer more of a product at high prices than at low prices.
B. the product supply curve is downsloping.
C. consumers will purchase less of a good at high prices than at low prices.
D. producers will offer more of a product at low prices than at high prices.
Answer: A
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As "haircuts" increased during 2007-2009, financial institutions found that to borrow the same loan amount now required ________ collateral
A) less B) no C) more D) default-free
Fiscal policy is concerned with:
a. encouraging businesses to invest. b. regulation of net exports. c. changes in government spending and/or tax revenues. d. expanding and contracting the money supply.
Which of the following would lead to an increase in the supply of Russian rubles?
a. An increase in the dollar price of the ruble b. An increase in Russian GDP c. An increase in the U.S. price level relative to the Russian price level d. A decrease in the dollar-ruble exchange rate e. Expectation that the price of the ruble will rise.
The statement, "Violent crime has decreased in the last five years," is:
A. obviously wrong and, therefore, cannot be a positive statement. B. normative since it can be answered by simply looking at the facts. C. positive because it is testable. D. not very interesting because all normative issues are of little importance.