All the production points that lie ________ the total product curve are attainable and ________
A) above; efficient
B) above; inefficient
C) below; efficient
D) below; inefficient
D
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If people have a sudden decrease in confidence in the open economy of the U.S. and no longer want to invest there, the NCO:
A. increases, and the demand for loanable funds curve would shift left. B. decreases, and the demand for loanable funds curve would shift right. C. decreases, and the demand for loanable funds curve would shift left. D. increases, and the demand for loanable funds curve would shift right.
The difference between the nominal rate of interest and the real rate of interest is the
A. expected interest rate. B. expected rate of inflation. C. interest rate. D. advertised interest rate.
Refer to Scenario 17.4. If there is no flood insurance and no flood control system is in place, the expected loss from a flood is
A) $5,000. B) $10,000. C) $100,000. D) $200,000. E) $1,000,000.
If firms in a monopolistically competitive industry are operating with economic losses, over time we would see
A) firms alter their advertising rates until they made at least normal profits. B) some firms exiting the industry, causing the market supply curve to shift to the left, raising price. C) some firms exiting the industry, causing the demand curves of the remaining firms to shift to the right. D) the firms working together to increase price and everyone's profitability.