Quantity supplied refers to the amount of a good or service that a firm is willing and able to supply at a given price
Indicate whether the statement is true or false
TRUE
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If the real interest rate rises,
A) the quantity of loanable funds demanded decreases. B) the demand for loanable funds curve shifts leftward. C) the demand for loanable funds curve shifts rightward. D) the quantity of loanable funds demanded increases. E) there is is movement down along the demand for loanable funds curve.
Several adjustments must be made to net domestic product at factor cost in order to calculate GDP. One of these adjustments is adding depreciation. What is depreciation and why must it be added?
What will be an ideal response?
The Tax Reform Act of 2004
a. lowered marginal income tax rates. b. cut taxes on inheritance payments. c. lowered taxes or corporate dividends. d. Both b and c e. All of the above
The value of the absolute price elasticity of demand for good X is 3. The absolute price elasticity for good Y is 2. Which good's quantity demanded is less responsive to a change in price?
A) Good X B) Good Y C) They are equally responsive. D) Not enough information is given.