In 2002 mortgage rates fell and mortgage lending increased. Which of the following could explain both of these changes?
a. The demand for loanable funds shifted rightward.
b. The demand for loanable funds shifted leftward.
c. The supply of loanable funds shifted rightward.
d. The supply of loanable funds shifted leftward.
c
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Which of the following government policies ensures market efficiency?
A) subsidy B) tax C) price regulations D) quantity regulations E) None of the above answers is correct.
When a group of people voluntarily band together to share some kind of benefit, we call this
A. a gang. B. a team. C. a coalition. D. a club.
Total revenue decreases as output increases when demand is:
A. downward sloping. B. perfectly elastic. C. price inelastic. D. price elastic.
During one winter quarter at Frozen U., snow falls every Friday night. Students assume that, on their campus, Fridays cause snow. This hypothesis
a. should more properly be considered a theory. b. assumes that correlation implies causation. c. assumes that causation implies correlation. d. reflects the fallacy of composition.