Which statement is true?
A. Rent, but not the interest rate is determined by supply and demand.
B. The interest rate, but not rent, is determined by supply and demand.
C. Both rent and the interest rate are determined by supply and demand.
D. Neither rent nor the interest rate is determined by supply and demand.
C. Both rent and the interest rate are determined by supply and demand.
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Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, ________ has an absolute advantage in selling cars and ________ has an absolute advantage in selling trucks.
A. Joe; Joe B. Ralph; Larry C. Larry; Joe D. Larry; Ralph
A monopolistically competitive market has characteristics that are similar to
a. a monopoly only. b. a competitive firm only. c. both a monopoly and a competitive firm. d. neither a monopoly nor a competitive firm.
An increase in the costs of production will cause the:
A. short-run aggregate supply curve to shift to the right. B. aggregate demand curve to shift to the right. C. short-run aggregate supply curve to shift to the left. D. long-run aggregate supply curve to shift to the left.
If the Fed buys $10 million dollars in government securities, and the required reserve ratio is 20 percent, the banking system is able to expand the money supply by:
A. $10 million. B. $50 million. C. $2 million. D. $40 million.