The rule of caveat emptor
(a) is the supreme rule throughout our economy today.
(b) still exists, but only outside of the extensive framework of government regulations of business.
(c) is essentially the only rule with regard to buying and selling in our economy that is consistent with the concepts of freedom and liberty enshrined in our Constitution.
(d) is of little importance in our economy today.
(b)
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As interest rates decline, all of the following will result except
A. Cost of borrowing diminishes. B. Demand curve for loanable funds shifts to the left. C. Quantity supplied of loanable funds decreases. D. Quantity demanded of loanable funds increases.
If there is a shortage of loanable funds, then
a. the demand for loanable funds will shift right so the real interest rate rises. b. the supply of loanable funds will shift left so the real interest rate falls. c. there will be no shifts of the curves, but the real interest rate rises. d. there will be no shifts of the curves, but the real interest rate falls.
The distinction between real and nominal rates of interest is understood by
A. most public policy makers. B. the majority of the American population. C. a majority of legislators. D. relatively few Americans.
When a monopolist sells two units of output its total revenues are $100. When the monopolist sells three units of output its total revenues are $120. When the monopolist sells three units of output, the price per unit is:
A. $6.67. B. $20. C. $33.33. D. $40.