The slope of the supply of loanable funds is based on an increase in
a. only national saving when the interest rate rises.
b. both national saving and net capital outflow when the interest rate rises.
c. only national saving when the interest rate falls.
d. both national saving and net capital outflow when the interest rate falls.
a
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Which of the following is an example of a bank realizing economies of scope?
A) The bank develops a standard mortgage loan application to make the process of loaning out mortgages easier. B) The bank reduces costs of credit checking for the loan process by outsourcing the process to a specialist. C) By using the information collected from a corporation, the bank can decide how easy it would be to sell bonds issued by the corporation to the public. D) A bank in a rural area specializes in providing agricultural loans.
Often economists measure the loss in consumer surplus by looking at the changing area below the Marshallian demand curve. This approach will provide a more accurate measure of the compensating variation of such a price increase if: a. the good occupies a small portion of a person's budget
b. the good occupies a large portion of a person's budget. c. the good has many close substitutes. d. the good has few substitutes.
Marginal utility is defined as:
a. the extra satisfaction the consumer receives from an extra $1 of income. b. the total level of satisfaction a consumer receives upon the consumption of a certain number of goods. c. the number of hours a consumer would be willing to work to receive a certain product. d. the extra satisfaction a person derives from consuming an additional unit of a good. e. a comparison of the utility a good provides with the price of that good.
Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment.
A. frictional B. structural C. cyclical D. seasonal