In every economic system, scarcity imposes limitations on
a. households, business firms, governments, and the nation as a whole
b. households and business firms, but not the governments
c. local and state governments, but not the federal government
d. households and governments, but not business firms
e. business firms, governments, and the nation as a whole
A
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Expansionary monetary policy decreases the federal funds rate
Indicate whether the statement is true or false
A shortage exists in a market if a. there is an excess supply of the good
b. quantity supplied exceeds quantity demanded. c. the current price is below its equilibrium price. d. All of the above are correct.
Many years ago, the traditional mortgage loan structure specified
A. a variable interest rate. B. an initial loan-to-value ratio of 80%. C. a down payment of 100%. D. all of the option are correct.
As the firm in the above diagram expands from plant size #3 to plant size #5, it experiences:
A. diseconomies of scale. B. increasing returns. C. constant costs. D. economies of scale.