If the quantity of money demanded exceeds the quantity supplied:
A. the supply-of-money curve will shift to the left.
B. the demand-for-money curve will shift to the right.
C. the interest rate will rise.
D. the interest rate will fall.
C. the interest rate will rise.
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The introduction of sweep accounts
A) was an open market purchase. B) was a failure. C) had no effect. D) caused a reduction in the demand for money.
The substitution effect of a price change describes what happens to the shift in demand for a good when its price changes
a. True b. False
Which of the following is not how economists describe the term "economic rent?:
A. The gains that workers and owners of capital receive from supplying their labor or machinery in factor markets. B. The producer surplus in output markets. C. The rental price of a factor of production minus the cost of supplying it. D. The total revenue that a factor of production earns its owner.
Both monopolistically and perfectly competitive firms earn only normal profits in the long run
a. True b. False Indicate whether the statement is true or false