When a perfectly competitive, well-functioning market is not in equilibrium:
A. total surplus can be increased by a change in market price.
B. the market is not efficient.
C. there are exchanges that can make some better off without someone becoming worse off.
D. All of these are true.
D. All of these are true.
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The federal funds rate is the interest rate charged by:
a. banks for loans to other banks. b. the Fed for overnight loans. c. the Fed for borrowed reserves. d. the federal government on loans to member banks.
If price increases 6% and the quantity exchanged increases 4%, what does that tell us about the elasticity of demand? a. Demand is elastic
b. Demand is unit elastic. c. Demand is inelastic. d. It tells us nothing about the elasticity of demand.
The U.S. president who referred to inflation as "public enemy number one" was
a. Richard Nixon. b. Gerald Ford. c. Jimmy Carter. d. Ronald Reagan.
As country incomes rises, what would you generally expect to happen to the burden of noncommunicable diseases as a share of the total disease burden?
A) It should go up B) It should stay about the same C) There is no consistent relationship between the two D) as country incomes rise E) It should go down