At high levels of interest, borrowers will borrow ____ and suppliers will supply ____
a. more; less
b. less; more
c. less; less
d. more; more
b
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One of the consequences of a rent ceiling set below the equilibrium rent is
A) decreased search activity. B) increased search activity. C) the establishment of landlord unions. D) surpluses of apartments. E) the elimination of the deadweight loss that would otherwise exist in the housing market.
What is a term referring to the fact that a business that focuses on one or a few products is more successful than firms that try to make a wide range of products?
a. scarcity b. division of labor c. core competency d. specialization
Since the mid-1980s, if the Fed wanted to shift to a more expansionary monetary policy, it would
a. expand the reserves available to the banking system, which would drive down short-term interest rates. b. reduce the reserves available to the banking system, which would drive down short-term interest rates. c. expand the reserves available to the banking system, which would drive up short-term interest rates. d. reduce the reserves available to the banking system, which would drive up short-term interest rates.
Which of the following statements is correct?
a. All items that are included in M1 are included also in M2. b. All items that are included in M2 are included also in M1. c. Credit cards are included in both M1 and M2. d. Savings deposits are included in both M1 and M2.