Every financial market has the following characteristic
A) It determines the level of interest rates.
B) It allows common stock to be traded.
C) It allows loans to be made.
D) It channels funds from lenders-savers to borrowers-spenders.
D
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If a marginal cost pricing rule is imposed on the firm in the figure above, the consumer surplus will be
A) zero. B) $800. C) $400. D) $200.
The excess supply created when the government imposes a price floor
a. shifts the equilibrium price upward to the price ceiling level b. is the difference between the quantity demanded at the old equilibrium price and quantity supplied at the price set by the price ceiling c. is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the old equilibrium price d. is the difference between the quantity supplied and the quantity demanded at the price set by the price ceiling e. is the difference between the old equilibrium price and the price set by the price ceiling
Urban work units in China receive
a. job security b. low priced food c. free health care d. subsidized housing e. all of the above
The approach to understanding the determination of real GDP and the price level that emphasizes flexible wages and prices and competitive markets is
A. the Keynesian model. B. Adam Smith's Law. C. Murphy's Law. D. the classical model.