At high levels of interest, borrowers will borrow ____ and suppliers will supply ____.
A. more; less
B. less; more
C. less; less
D. more; more
Answer: B
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If information about the total cost is not given for every possible 1 unit change in quantity, marginal cost can still be computed as
a. the price of labor divided by the quantity of labor. b. the price of labor divided by the marginal product of labor. c. fixed cost divided by the marginal product of labor. d. variable cost divided by the marginal product of labor.
Everything else held constant, a monetary expansion is characterized by ________ output and ________ interest rates
A) rising; rising B) rising; falling C) falling; rising D) falling; falling
If the demand curve is a straight line and has the normal negative slope, then as quantity demanded increases, demand
a. becomes more elastic b. becomes more inelastic c. is unitary elastic d. rises and then falls e. is an inverse function of supply
When a good does not have a __________ attached to it, private markets fail to ensure that the good is produced and consumed in the proper amounts
Fill in the blank(s) with correct word