In 2006, before the Great Recession, the economy was booming and consumer demand was high, making the:
A. demand for loanable funds decrease and shift to the left.
B. supply of loanable funds increase and shift to the right.
C. demand for loanable funds increase and shift to the right.
D. supply of loanable funds decrease and shift to the left.
Answer: C
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Goods and services such as environmental quality, leisure time, and household production are not included in GDP because they are not
A) productive activities. B) for consumption. C) bought in markets. D) made for profit. E) really durable goods.
Figure 10-4
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Figure 10-4 shows the industry’s supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S3, the firm is
A. going to shut down. B. incurring losses. C. earning zero economic profits. D. earning economic profit greater than zero.
Above the shutdown point, a competitive firm's supply curve coincides with its:
a. marginal revenue curve. b. marginal cost curve. c. average variable cost curve. d. average total cost curve.
Stock prices are determined by only past performance
Indicate whether the statement is true or false