A surplus is defined as the situation that exists when the quantity of a good supplied is greater than the quantity demanded
Indicate whether the statement is true or false
TRUE
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The real exchange rate, q, is defined as
A) the price of the foreign basket in terms of the domestic one. B) the price of the domestic basket in terms of the foreign one. C) the price of the foreign basket. D) the price of the domestic basket. E) the nominal exchange rate in terms of the domestic basket.
Washington D.C.'s metro train system is being extended further into the neighboring states of Maryland and Virginia, thereby reducing the cost of commuting into the United States' capitol
Other things being held constant, this can be expected to: A) decrease the extent of the market for housing around Washington D.C. B) increase the extent of the market for housing around Washington D.C. C) have no effect on the extent of the market for housing around Washington D.C. as the actual geography remains unchanged. D) have no effect on the extent of the market for housing around Washington D.C. as the range of houses available has not changed. E) have no effect on the extent of the market for housing around Washington D.C. as property taxes have not changed.
A lender of last resort is a financial institution that is willing and able to lend to: a. individuals who have other debts outstanding
b. individuals who do not have a positive net worth. c. banks that are not members of the Federal Reserve System. d. fractional reserve system banks experiencing runs on their deposits. e. Federal Reserve System member banks experiencing runs on their deposits.
The opportunity cost of holding cash in your wallet
A. tends to increase as interest rates decrease. B. is the foregone interest that could have been earned on other assets. C. is zero. D. None of the choices are correct.