Total surplus or gains created from trade equal
a. Seller surplus
b. Buyer surplus
c. The summation of seller and buyer surplus
d. Profits earned by a firm
c
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A decrease in the discount rate ________ bank reserves and ________ the federal funds rate
A) increases; raises B) increases; lowers C) decreases; raises D) decrease; lowers
If the nominal interest rate is 10 percent and the inflation rate is 3 percent, then the real interest rate equals:
A. 13 percent. B. 10 percent. C. 3 percent. D. 7 percent.
A technique for implementing industrial policies that probably worsened the effects of the 1997 crisis was
A) directed credit. B) protection from imports. C) export subsidies. D) research subsidies.
Refer to the below table. The marginal revenue product of the fourth unit of input is approximately:
