The supply curve for credit card services is an increasing function of
A) the price of credit card services.
B) bank profitability.
C) the real interest rate.
D) the quantity of money.
A
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According to this Application, the decrease in consumer wealth due to decreases in the value of home equity has
A) decreased consumer spending. B) decreased the marginal propensity to save. C) increased short-run aggregate supply. D) increased consumer saving.
A movement down along a given isoquant causes the marginal rate of technical substitution to:
A) increase. B) stay the same. C) decrease. D) cannot be determined without additional information.
Unions can ration the excess supply of labor generated by the establishment of a wage that is above the competitive wage by
A) lengthening the time period for apprenticeship programs. B) lowering union dues. C) encouraging older workers to take early retirement. D) having more intensive membership drives to ensure a larger proportion of workers are covered by the union contract.
A firm gets less efficient as it gets bigger, if it is experiencing:
a. economies of scale. b. constant returns to scale. c. increasing returns to factors. d. diseconomies of scale. e. a period of post war recovery.