Which of the following statements is consistent with a decrease in supply?
A) Prices of raw material inputs have increased.
B) There has been an advance in technology.
C) Consumers' incomes have increased.
D) The market price has decreased.
Answer: A
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Suppose that the initial supply of loanable funds curve is SLF1. In the figure above, an increase in the real interest rate leads to
i. a shift in the supply of loanable funds curve from SLF1 to SLF2. ii. a shift in the supply of loanable funds curve from SLF1 to SLF3. iii. a movement along the supply of loanable funds curve SLF1. iv. no change whatever. A) i and iii B) iv only C) ii only D) i only E) iii only
Bank reserves increase when the Treasury finances an expenditure through
A) taxation. B) borrowing from the non-bank public. C) borrowing from the banking system. D) borrowing from the Fed.
Minimum wage laws contribute to structural unemployment by:
A. keeping wages below the market-clearing level. B. forcing unemployed workers to take the first job offered to them. C. allowing unemployed workers to search longer or less intensively for jobs. D. keeping wages above the market-clearing level.
China has 20 percent of the world's population and 10 percent of the world's farmable land. Which of the following will be predicted by the Heckscher-Ohlin theory if China begins to trade with other countries?
A. China will export capital-intensive goods like automobiles and import labor-intensive goods like clothing. B. China will export land-intensive goods like wheat and import labor-intensive goods like clothing. C. China will shift resources into the production of agricultural goods and away from manufactured goods. D. China will shift resources from the production of agricultural goods to the production of labor-intensive goods.