General equilibrium exists when any one market in an economy is in equilibrium.
Answer the following statement true (T) or false (F)
False
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In the short run, when the Fed increases the nominal interest rate, the real interest rate
A) permanently falls. B) does not change. C) permanently rises. D) temporarily rises. E) temporarily falls.
Which of the following is the source of funds for bank loans?
A) marketable securities B) required reserves C) excess reserves D) bank capital
We see permanent price differentials in land because
a. the demand for land is high b. land has few uses c. location is the inherent quality that often determines its value d. real estate brokers are inefficient e. land is not traded in free markets
The optimal level of employment for a monopsonist corresponds to the point where labor:
A. demand intersects labor supply. B. demand intersects marginal factor cost. C. supply intersects marginal revenue product. D. supply intersects marginal factor cost.