A demand curve shows the relationship between
A) the price of a produce and the demand for the product.
B) the quantity that consumers are willing and able to buy and the quantity that sellers are willing and able to offer.
C) the price of a product and the quantity of the product demanded.
D) the amount of a product sellers are willing to sell at a particular price and the amount consumers are willing to buy at that price.
C
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A period of economic expansion ends with a business cycle trough
Indicate whether the statement is true or false
A monopoly might produce less than the socially optimal amount of pollution because
A) it likes to be a good citizen. B) it sets price above marginal cost. C) it earns economic profit. D) it internalizes the external costs.
Under a fractional reserve banking system, banks have reserves of only a fraction of their total deposits
a. True b. False Indicate whether the statement is true or false
As the Fed shifted to a highly expansionary monetary policy during the second half of 2008, why were banks reluctant to extend loans and make investments?
a. Banks did not have enough excess reserves to extend loans and make investments. b. The demand for loans was weak and the business climate was uncertain. c. The rate of return on short-term investments was high, so banks were reluctant to make long-term investments. d. The interest rate that the Fed pays on excess reserves was maintained at a high rate.