Figure 5-3
Assume the market consists of three consumers with the demand curves in Figure 5-3. At a price of 1, the total market demand is
a.
40.
b.
80.
c.
140.
d.
150.
c
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As a result of an increase in the personal income tax rate, consumers are likely to
A) spend less. B) earn more money. C) save more. D) spend more.
Primary credit is only a backup source of funds for health banks since
A) the primary credit rate is set above the federal funds rate. B) restrictions as to its use limit its benefits. C) the secondary credit rate pays 0.5% more. D) banks must seek funds from other sources prior to requesting a discount loan.
Which of the following is a capital resource?
a. a new car bought by the Jones family b. a truck used in transporting school children to a soccer practice c. a truck used in transporting steel to an automobile factory d. hamburger meat used to produce a juicy hamburger on a home grill e. a sapling used to create a forest in a new national park
What is the shape of the long-run supply curve in a decreasing-cost industry?
A) horizontal B) increasing C) downward sloping D) upward sloping