If there is shortage of loanable funds, then
a. the supply for loanable funds shifts right and the demand shifts left.
b. the supply for loanable funds shifts left and the demand shifts right.
c. neither curve shifts, but the quantity of loanable funds supplied increases and the quantity demanded decreases as the interest rate rises to equilibrium.
d. neither curve shifts, but the quantity of loanable funds supplied decreases and the quantity demanded increases as the interest rate falls to equilibrium.
C
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If the price of music downloads was to decrease, then
A) the supply of MP3 players would increase. B) the demand for MP3 players would decrease. C) the demand for MP3 players would increase. D) the quantity of MP3 players demanded would decrease.
A big problem with fair pricing schemes is that
a. output is lower than if the market were competitive b. prices are higher than if the market were competitive c. firms have no incentive to control costs d. efficiencies result from lack of profit motive e. the marginal cost may not be very low
One-third of the world's population live in China and India. How did the growth rate of these two countries compare with the growth of high income industrial countries during 1980-2009?
a. Per capita GDP increased less rapidly in China and India than in the high income industrial countries. b. Per capita GDP increased more rapidly in China and India than in the high income industrial countries. c. China grew more rapidly than the high income industrial countries, but India grew less rapidly. d. India grew more rapidly than the high income industrial countries, but China grew less.
If the industry in the above figure was perfectly competitive, the level of output would
A) be less than the single-price monopoly level of output.
B) be the same as the single-price monopoly level of output.
C) exceed the single-price monopoly level of output by 20 units per day.
D) exceed the single-price monopoly level of output by 60 units per day.