If the interest rate is below the equilibrium, which of the following occurs in this market?
a. excess supply
b. excess quantity supplied
c. excess demand
d. excess quantity demanded
c. excess demand
You might also like to view...
A variable which is independent of the level of income is
A) endogenous. B) exogenous. C) autonomous. D) irrelevant to any theory of income determination.
Which of the following is NOT true about a certificate of convenience and public necessity?
A) It is a barrier to entry. B) It is a patent. C) It is issued by a government agency. D) It limits competition.
When it is difficult to assign and enforce property rights,
a. markets result in outcomes that are often inefficient. b. courts can easily negotiate efficient outcomes. c. establishing better property rights is always the best way to deal with environmental problems. d. government regulation can never improve on the outcomes generated by competitive markets.
Which of the following helps explain growing income inequality in the United States in recent years?
A. Reduced immigration. B. Increased demand for highly skilled workers. C. The falling labor force participation rate of women. D. Increased power of unions.