Final goods:
What will be an ideal response?
not intended for resale or further processing in Canada
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The table above gives the demand for loanable funds and private supply of loanable funds schedules
a. What is the equilibrium real interest rate and quantity of loanable funds? b. Suppose that the government has a budget surplus of $2.5 billion. If there is no Ricardo-Barro effect, what is the equilibrium real interest rate and quantity of loanable funds?
Which of the following outcomes is NOT a result of a tax imposed on sellers of gasoline?
A) Supply decreases, a deadweight loss is created, and the price rises. B) The market becomes less efficient and the government collects the tax revenue. C) Demand does not change, the price rises, and consumer surplus decreases. D) Demand decreases, the market becomes more efficient, and the price rises.
A monopolist faces a demand curve given by P = 20 - Q and has total costs given by TC = Q2. By using a bit of calculus, you should be able to determine that the firm's marginal revenue is MR = 20 - 2Q and its marginal cost is MC = 2Q. What is its profit-maximizing output level?
a. 5 b. 6 c. 7 d. 8
In a market, the rationing function of prices results in
A. long waiting lines. B. a shortage or surplus. C. a price ceiling. D. an equilibrium between supply and demand.