What is an aggregate demand curve
a. The demand of an individual with respect to price
b. The total demand of the market with respect to price of a good
c. The preference of an individual in the market
d. None of the above
b
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The price paid for an option is called the
A) settlement price. B) mark-to-market price. C) option premium. D) call price.
Banks use credit rationing rather than simply raising the interest rate charged borrowers with higher default risks because
A) of fear of adverse selection problems. B) of interest rate ceilings in many states. C) of fear of offending the loan applicants. D) use of credit rationing is encouraged by the Federal Reserve.
All of the following are arguments in favor of restricting trade EXCEPT
A) comparative advantage. B) protecting domestic jobs. C) protecting emerging industries. D) dumping.
When a teacher in a private school points out to her high school principal that since there are empty seats in all classrooms, the cost of additional students is really zero, she is using the
a. law of comparative advantage. b. principle of marginal analysis. c. theory of externalities. d. notion of the cost decreases of the service sector. e. concept of opportunity cost.