Refer to the graph shown. If price is increased from $3 to $4, consumer surplus will fall by:
A. 50.
B. 100.
C. 25.
D. 125.
Answer: D
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In the table above, which of the following is TRUE?
A) Jim and Sally have increasing marginal utility. B) Jim has increasing marginal utility and Sally has diminishing marginal utility. C) Jim has diminishing marginal utility and Sally has increasing marginal utility. D) Jim and Sally have diminishing marginal utility.
Equilibrium in the loanable funds market determines
A) the real interest rate. B) the nominal interest rate. C) the current interest rate. D) the expected interest rate.
Suppose s = 0.18, Y = 4000, K = 6200, n = 0.02, and d = 0.08. This makes national saving ________ than steady-state investment, so that the amount of capital per worker is ________
A) greater, rising B) greater, falling C) less, rising D) less, falling
On the books of the Fed the difference between borrowed reserves and discount loans is equal to
A) excess reserves. B) required reserves. C) currency in circulation. D) zero; they are the same thing.