The economy's demand for loanable funds is not
a. the same as the economy's supply of capital
b. downward sloping
c. the sum of all individual firms' demands at every interest rate
d. the sum of all the firms' marginal revenue product of capital curves
e. a function of the rate of interest
A
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Efficiency wages are:
A. wages deliberately set above the market rate in order to increase productivity. B. not a cause of unemployment. C. generally a disincentive for an employee to work hard to try to keep their job. D. All of these are true.
The electric power company in a city increased its prices by 15% this year. Since the demand for electricity is a(n) ________ demand in the short run, the equilibrium price will ________.
A. inelastic; greatly increase B. elastic; decrease C. inelastic; decrease
The curve formed by plotting the value of the marginal product for workers against quantity of labor is:
A. downward sloping. B. perfectly elastic, for competitive firms. C. perfectly inelastic. D. upward sloping.
If the dollar appreciates, how will aggregate demand in the United States be affected?
A) Aggregate demand will increase as exports increase and imports decrease. B) Aggregate demand will increase as imports increase and exports decrease. C) Aggregate demand will decrease as imports increase and exports decrease. D) Aggregate demand will decrease as exports increase and imports decrease.