Which of the following is NOT a characteristic of a market in equilibrium?
A. Neither buyers nor sellers want the price to change.
B. Sellers can sell as many units as they want at the equilibrium price.
C. There is neither excess supply nor excess demand.
D. Buyers can buy as many units as they want at the equilibrium price.
Answer: A
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Which of the following is true concerning the income effect of a decrease in price?
A) It will lead to an increase in consumption only for a normal good. B) It always will lead to an increase in consumption. C) It will lead to an increase in consumption only for an inferior good. D) It will lead to an increase in consumption only for a Giffen good.
Natural monopolies form when
a. small firms merge to form larger firms b. one firm has control over the entire supply of a basic input required to produce the product c. one firm's monopoly position is created and enforced by the government d. one firm receives patent protection for certain basic production processes e. long-run average cost declines as a firm expands output
Explain the concept of notional principal used in swaps.
What will be an ideal response?
Which of the following would shift the investment demand curve rightward?
a. A lower real interest rate b. Higher acquisition costs for capital goods c. Lower acquisition costs for capital goods d. A higher real interest rate