All else constant, an increase in the supply of
A) increases the equilibrium quantity and the equilibrium price of bonds.
B) increases the equilibrium quantity and decreases the equilibrium price of bonds.
C) decreases the equilibrium quantity and increases the equilibrium price of bonds.
D) decreases the equilibrium quantity and the equilibrium price of bonds.
Ans: B) increases the equilibrium quantity and decreases the equilibrium price of bonds.
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A particular good is not scarce when
A) everyone is able to purchase as much of the good as they wish to purchase. B) it is available in large enough quantities to meet everyone's needs. C) no one must sacrifice anything to obtain more of the good. D) there is a surplus of the good.
When did housing prices start to fall during the most recent housing boom?
A) 2005 B) 2006 C) 2007 D) 2008
Consider the above figure. At a price level of 120
A) total planned real expenditures exceed total planned production. B) total planned production exceeds total planned expenditures. C) prices would fall. D) inventories would begin to accumulate.
Consider an NBA superstar Kobe Bryant and one of your economics professors. Who is likely to receive more economic rent in his/her job? Explain your answer
What will be an ideal response?