If there is an excess supply of money in the money market, there must be an excess supply of bonds in the bond market
a. True
b. False
B
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What determines the revenue flows received by businesses?
A) an agency of the Federal government B) their ownership of factors of production, how much they sell in the factor markets, and the prices received when sold C) what they pay the factors of production they employ D) what they choose to produce, how much is sold, and the price received when sold E) financial institutions such as banks
Suppose that Joan, the only consumer of pork, has a downward-sloping demand curve for pork and faces an upward-sloping supply curve. If her demand curve shifts out because she develops a craving for pork, then at the new equilibrium (everything else equal),
A. the price of pork relative to other goods will be higher than before. B. Joan’s marginal utility from every unit of pork she eats will be higher than before. C. Joan’s real income will be lower than before. D. All of the responses are correct.
Most economic growth in the world occurred between 1,000,000 B.C. and 1300 A.D
Indicate whether the statement is true or false
Table 10-1 Q (in units) AFC (in dollars) AVC (in dollars) MC (in dollars) 0 C C C 2 2.5 18 10 4 1.25 14 14 6 0.83 18 42 8 0.63 30 94 10 0.5 50 170 In Table 10-1 are the short-run cost schedules of a perfectly competitive firm. If the market price of output is $50, the firm will produce ____ units and earn a profit of ____.
A. 6; $187.02 B. 6; $48 C. 8; $154.96 D. 8; $245.04