Assuming all else equal, any change that causes a decrease in the credit supply at a given real interest rate will cause:
A) the credit supply curve to shift to the right.
B) an upward movement along the credit supply curve.
C) a downward movement along the credit supply curve.
D) the credit supply curve to shift to the left.
D
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The unwillingness of individuals to share in the cost of a public good is called the:
A. volunteer problem. B. social conscience problem. C. public choice problem. D. free rider problem.
Economists use the percentage change in quantity rather than the absolute change in quantity because:
A. the measured elasticity is the same regardless of the unit of measurement for quantity. B. absolute changes are confusing to convert. C. absolute changes often result in negative numbers. D. percentage changes are easier to calculate than absolute changes.
The selling of a good or service abroad at a price below production costs is
A. price discrimination. B. price differentiation. C. dumping. D. marginal cost selling.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.