Which of the following is an investment institution?
A) The New York Stock Exchange
B) Greater Illinois Savings and Loan
C) Prudential Insurance Company
D) Fidelity Magellan Mutual Fund
D
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Explain the difference between a change in quantity demanded and a change in demand
What will be an ideal response?
When there is a positive externality
A) the marginal social benefit received by consumers is greater than the marginal private benefit. B) the marginal private benefit received by consumers is greater than the marginal private cost. C) the marginal private benefit received by consumers is greater than the external benefit. D) the marginal private benefit received by consumers is greater than the marginal social benefit.
Assume declining profits in the market for Internet service force several firms in the area to drop out of the market Which of the following best describes the effect of the reduction in the number of service providers and the subsequent adjustment of the market to the new equilibrium price and quantity?
A) Quantity supplied would decrease, creating excess supply at the initial equilibrium price. Demand would then decrease until quantity demanded and quantity supplied are once again equal. B) Quantity supplied would decrease, creating excess demand at the initial equilibrium price. Demand would then decrease until quantity demanded and quantity supplied are once again equal. C) Supply would increase, creating excess demand at the initial equilibrium price. Price would then rise, causing quantity demanded to decrease and quantity supplied to increase until a new equilibrium is reached. D) Supply would decrease, creating excess demand at the initial equilibrium price. Price would then rise, causing quantity demanded to decrease and quantity supplied to increase until a new equilibrium is reached.
The short-run aggregate supply curve in modern Keynesian analysis is
A. horizontal. B. upward sloping. C. vertical. D. downward sloping.