Which of the following is NOT possible according to the law of demand?
A) a horizontal demand curve
B) a vertical demand curve
C) a downward-sloping supply curve
D) an upward-sloping demand curve
D
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If an asset has a 0.7 probability of yielding 10 percent and a 0.3 probability of yielding 20 percent, the expected yield of the asset is
A) 30 percent. B) 20 percent. C) 13 percent. D) 10 percent.
Economists of the rational expectations school believe that expansionary monetary policy is fully effective only if: a. the policy is anticipated by workers and firms
b. it causes the aggregate supply curve to shift to the left. c. the economy is operating at or above its potential output level. d. policy makers follow through on their previously announced plans. e. the policy is totally unexpected.
Other things the same an increase in the interest rate
a. increases national saving, this is shown by moving along the demand for loanable funds curve. b. increases national saving, this is shown by moving along the supply of loanable funds curve. c. decreases national saving, this is shown by moving along the demand for loanable funds curve. d. decreases national saving, this is shown by moving along the supply of loanable funds curve.
On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap. The opportunity cost of attending the
afternoon class is A) forgoing the nap. B) missing seeing the movie with your friend. C) giving up the time to study for the next morning's exam. D) being unable to engage in all three of the above activities.