Equilibrium price is _____ and equilibrium quantity is _____ units.
A. $8; 9
B. $7; 10
C. $6; 10
D. $5; 9
B. $7; 10
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Holding all other factors constant, which of the following does not shift the demand curve rightward?
(a) An increase in income considering it is a normal good. (b) A fall in the price of a substitute. (c) An increase in the number of buyers. (d) (a) and (c).
The interest rate that commercial banks charge each other for very short-term loans is called the:
A. federal funds rate. B. prime rate. C. bank loan rate. D. Federal Reserve discount rate.
The prime rate is the interest rate at which banks can borrow from the Fed
Indicate whether the statement is true or false
If GDP calculations included measurements of pollution and environmental damage, GDP values would most likely be
A) unchanged from their values without these measurements. B) meaningless, since GDP values without these measurements would no longer be of value. C) greater than their values without these measurements. D) less than their values without these measurements.