Which of the following are effects of an increased budget deficit?
a. the supply of loanable funds does not change; a higher interest rate reduces private saving
b. the supply of loanable funds does not change; a higher interest rate raises private saving
c. at any interest rate the supply of loanable funds is less; a higher interest rate reduces private saving
d. at any interest rate the supply of loanable funds is less; a higher interest rate raises private saving
d
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Which of the following is the best example of a monopolistically competitive industry?
A) land-based long distance telephone service B) wheat farming C) the local electricity producer D) manufacturing of shirts E) cable television
What ratio defines the standard of living?
A) (Y/N) B) (Y/K) C) (Y/A) D) (Y/Q)
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer this hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13.
Given the scenario described, if the market price of hammers was $13, then total producer surplus would be: A. $9. B. $30. C. $17. D. $7.
At McDonald's, economies of scale at the plant (or restaurant) level occur
a. over the range of output for which that restaurant's average cost curve is upward sloping b. over the range of output for which that restaurant's average cost curve is horizontal c. over the range of output for which that restaurant's average cost curve is downward sloping d. at all levels of output e. only in the short run