A decrease in wealth leads to a
A) downward movement along the supply of loanable funds curve.
B) rightward shift of the demand for loanable funds curve.
C) leftward shift of the demand for loanable funds curve.
D) rightward shift of the supply of loanable funds curve.
E) leftward shift of the supply of loanable funds curve.
D
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Refer to the figure above. When the demand curve for gas is D2 and the supply curve for gas is S, the surplus in the market when price is $8 is:
A) 20 gallons. B) 55 gallons. C) 25 gallons. D) 50 gallons.
If grades are to be a successful signal to potential employers of a student's qualities, then higher grades must be
A) easier for high-productivity students to earn than for low-productivity students to earn. B) easier for low-productivity students to earn than for high-productivity students to earn. C) easy for employers to check. D) used for all future promotions within the firm. E) often referred to in the hiring process.
If the units of variable input in a production process are 1, 2, 3, 4, and 5, and the corresponding total outputs are 30, 34, 37, 39, and 40, respectively. The marginal product of the fourth unit is:
a. 2. b. 1. c. 37. d. 39.
In general, game theory is the study of
a. how people behave in strategic situations. b. how people behave when the possible actions of other people are irrelevant. c. oligopolistic markets. d. all types of markets, including competitive markets, monopolistic markets, and oligopolistic markets.