The demand for bonds is
A) equivalent to the demand for loanable funds.
B) equivalent to the supply of loanable funds.
C) represented by an upward-sloping line when the price of bonds is on the vertical axis and the quantity of bonds demanded is on the horizontal axis.
D) represented by a downward-sloping line when the interest rate is on the vertical axis and the quantity of bonds demanded is on the horizontal axis.
B
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Which of the following statements is true?
A) Labor markets in the United States are frictionless. B) The market wage rate is always below the equilibrium wage rate in a frictionless labor market. C) There is always some unemployment in a frictionless labor market. D) Both employees and employers have complete information about each other in a frictionless labor market.
Most economists believe that price indices
A) understate inflation and understate growth in real GDP. B) understate inflation and understate growth in nominal GDP. C) overstate inflation and understate growth in real GDP. D) overstate inflation and understate growth in nominal GDP.
Which of the following statement or statements are correct about potential GDP?
i. Actual real GDP equals potential GDP when the economy is at full employment. ii. Real GDP can be less than potential GDP. iii. When real GDP equals potential GDP, it also equals nominal GDP. A) i only B) ii only C) ii and iii D) i and ii E) i, ii, and iii
An example of a natural monopoly is
A) a house. B) the Internet. C) air traffic control. D) fish in the ocean.