If there is a surplus in the U.S. loanable funds market, then
a. NCO > I.
b. NCO < I.
c. NCO + I > S.
d. NCO + I < S.
d
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Efficiency wages create structural unemployment
a. True b. False Indicate whether the statement is true or false
Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
A. structural and frictional unemployment. B. cyclical and frictional unemployment. C. structural and cyclical unemployment. D. structural, frictional, and cyclical unemployment.
In a competitive market where the elasticity of the market demand curve is -2, the elasticity of the supply curve is 1, and an individual firm faces a residual demand curve with an elasticity of -98. What happens to the individual firm's residual demand curve when the number of firms serving this market declines?
A) It becomes less elastic. B) It becomes more elastic. C) It does not change. D) It cannot be determined.
Curve (1) in the diagram is a purely competitive firm's:
A. total cost curve.
B. total revenue curve.
C. marginal revenue curve.
D. total economic profit curve.