Assume that the supply curve for a commodity shifts to the right and the demand curve shifts to the left, and the shift in demand is greater than the shift in supply
Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and a higher quantity. B) the same price and a lower quantity.
C) a higher price and a lower quantity. D) a lower price and quantity.
D
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Which of the following will shift the supply of loanable funds curve leftward?
A) a decrease in the real interest rate B) a decrease in real wealth C) a decrease in disposable income D) a decrease in expected future income
Which of the following did NOT contribute to the European experience of the past few decades where the stand of living rose more slowly than labor productivity?
A) longer vacations B) higher unemployment C) higher participation rates D) All of the above
The following is not an example of risk aversion
a. you lock your garage when you have expensive workshop tools b. you are more careful when you buy a more expensive car c. Individuals tend to gamble more with their money when the future is certain d. you only go swimming when the lifeguard is not on duty
On average over the last century, the U.S. population has grown three times as fast as the U.S. real GDP.
Answer the following statement true (T) or false (F)