The level of consumption tends to rise as credit availability _____ and the stock of durable goods in the hands of consumers is _______.
A. rises; high
B. rises; low
C. falls; high
D. falls; low
B. rises; low
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A ________ curve means that ________
A) horizontal demand; a change in price does not change total revenue B) horizontal demand; the elasticity of demand is less than 1 C) horizontal supply; the elasticity of supply is infinite D) horizontal supply; the elasticity of demand is infinite E) vertical demand; a change in price does not change total revenue
A higher rate of saving at the national level will, in the long-run ________
A) cause a decrease in levels of capital and output B) have no effect on levels of capital and output C) lead to an increase in population growth D) cause an increase in levels of capital and output
Welfare economics is the study of
a. the well-being of less fortunate people. b. welfare programs in the United States. c. how the allocation of resources affects economic well-being. d. the effect of income redistribution on work effort.
Money center banks differ from community banks in all of the following ways except:
A. they obtain their funds primarily through borrowing and not by deposits. B. they are actively engaged in the money market. C. they are usually much smaller. D. they are a much smaller percentage of the total number of banks.