If something happens to alter the quantity supplied at any given price, then
a. we move along the supply curve.
b. the supply curve shifts.
c. the supply curve becomes steeper.
d. the supply curve becomes flatter.
b
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If demand is unit elastic, then a 10 percent increase in the price will lead to a 10 percent increase in quantity demanded.
Answer the following statement true (T) or false (F)
Which of the following makes short-term conditional low-interest loans to LDCs?
a. Agency for International Development (AID) b. World Bank c. Agency for International Finance (AIF) d. International Monetary Fund (IMF)
To obtain a discount loan from the Fed, a commercial bank must:
A. provide collateral. B. agree to more frequent examinations. C. prove that the loan will be used to make loans. D. prove that it will fail if it does not obtain the loan.
If resources are limited:
A.) People will rush to buy more goods than they would otherwise. B.) Businesses will sell more products than they would otherwise. C.) There will be tradeoffs whenever choices are made. D.) All individuals are deprived of basic necessities.