When prices rise, the interest rate:
A. tends to rise.
B. tends to fall.
C. is usually not affected.
D. will rise if the wealth effect outweighs the price effect.
A. tends to rise.
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Which one of the following statements about policies to deal with monopoly is true? a. There is no consensus among economists about the best way to deal with monopoly and oligopoly
b. Economists agree that antitrust is best. c. Economists agree that government regulation is best. d. Economists agree that nationalization is best. e. Economists agree that laissez-faire is best.
Concerns about environmental damages arise from
A. concerns about rising real gross domestic product in developing countries. B. concerns about unemployment and the cost of living. C. new research findings made public. D. concerns about the quality of life.
True or false? The Edgeworth box version of interpersonal trade requires the individuals to be in close proximity of one another
A) True, that way they can see each other's endowments and prices. B) False, being in close proximity is not required for mutually beneficial trade to occur in the Edgeworth box. C) True, the Edgeworth box only works when there folks see "eye-to-eye." D) False, although prices are only valid if they are communicated in person.
Suppose there are two perfectly competitive industries with similar numbers of firms but where one industry consists of N identical firms while the second consists of N firms with differing costs. Compared to the short-run supply curve of the industry with identical firms, the short-run supply curve of the differing cost industry will tend to be
A) steeper at higher prices. B) flatter at higher prices. C) steeper at lower prices. D) flatter at lower prices.