At higher interest rates the
A) money supply is indeterminate. B) quantity of money demanded is higher.
C) money supply is higher. D) quantity of money demanded is lower.
D
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When institutions do not protect private property rights, do not uphold contracts, interfere with the working of markets and instead erect significant barriers into businesses and occupations, they are referred to as:
A) transitive economic institutions. B) extractive economic institutions. C) inclusive economic institutions. D) exclusive economic institutions.
The overall trend in resource prices has been
a. upward. b. downward. c. constant. d. increasing exponentially.
Other things being equal, a price-discriminating firm will charge less to the customers who
A) have the lowest incomes. B) have the least elastic demand for its product. C) have the most elastic demand for the product. D) are the most rational in making their decisions.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.