An increase in the interest rate would result in a(n)
a. shift to the left in the demand curve for loanable funds
b. shift to right in the supply curve of loanable funds
c. decrease in the quantity demanded of loanable funds
d. increase in the present value of assets
e. decrease in the quantity supplied of loanable funds
C
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Jane produces only corn, measured in tons, and cloth, measured in bolts. For her, the opportunity cost of one more ton of corn is
A) the same as the opportunity cost of one more bolt of cloth. B) the inverse of the opportunity cost of one more bolt of cloth. C) the ratio of all the bolts of cloth she produces to all the tons of corn she produces. D) the ratio of all the tons of corn she produces to all the bolts of cloth she produces.
Consider a consumer choosing between spending her money on food, F, or clothing, C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. If B stands for benefits then "F + C = 10" is the:
A. optimal solution. B. objective function. C. constraint. D. first-order condition.
A leftward shift of the market demand curve for HDTVs, ceteris paribus, causes equilibrium price to
A. Decrease and quantity to decrease. B. Increase and quantity to increase. C. Decrease and quantity to increase. D. Increase and quantity to decrease.
Which expression below matches most closely the way economists go about testing their models?
A. "Seeing the results is the only way to know if you are right." B. "A bird in the hand is worth two in the bush." C. "In the long run, we are all dead." D. "Consistency is the hobgoblin of small minds."