A raise in the demand for a resource to produce some product (x) will
a. Raise the cost of using the resource for an alt. product
b. Reduce the use of that resource in alt lower valued production
c. Increase the value of the resource
d. All
d. All
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The Federal Reserve issues a report indicating that future inflation will be higher than had previously seemed likely. As a result
A) the supply curve for bonds shifts to the right. B) the demand curve for loanable funds shifts to the left. C) the equilibrium interest rate falls. D) the equilibrium price of bonds rises.
Transaction costs can be defined as the costs:
A. incurred by buyer and seller in agreeing to and executing a sale of goods or services. B. the government must pay to allow for an exchange. C. incurred by the buyer and seller in agreeing to and executing a purchase of goods or services, excluding transportation costs. D. the government incur to create a structured market for the exchange of buyers and sellers.
A lower price elasticity of demand coefficient occurs when:
a. many substitutes exist. b. the quantity demanded is more responsive. c. few substitutes exist. d. the market is broadly defined.
The vertical intercept of the consumption function that represents the portion of consumption expenditure not associated with a level of disposable income is known as:
a. zero income intercept. b. disposable income intercept. c. autonomous consumption. d. automatic consumption line.