The economy's supply of loanable funds is
a. a result of firms' borrowing decisions
b. a vertical line at the current level
c. downward sloping
d. a result of people's saving decisions
e. the same as wage-related rent
D
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Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
A) health care is nonrivalrous and nonexcludable. B) health care generates negative externalities. C) health care is a public good. D) health care generates positive externalities.
The short run is a period of time
a. less than one year b. greater than one year c. during which all resources are variable d. during which at least one resource is fixed e. during which at least one resource is variable
The substitution effect of wages explains shifts in the labor supply curve.
Answer the following statement true (T) or false (F)
Which statement is true?
A. President Eisenhower did not attempt to undo the legacies of the New Deal, such as Social Security and unemployment insurance. B. There was a major tax increase in 1964. C. A war in Vietnam and a "war on poverty" in the Johnson Administration helped to reduce the federal budget deficit. D. None of the choices are true.