Saving differs from savings in that
A. saving is a flow while savings is a stock.
B. saving is both a flow and a stock while savings is a stock.
C. saving is a stock while savings is a flow.
D. saving is a stock while savings is both a flow and a stock.
Answer: A
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Coase argues that every case of externalities
a. has a clearly identifiable cause. b. requires government intervention if efficiency is to be achieved. c. can be traced back to a principal-agent problem. d. is reciprocal in nature.
Suppose investors become more optimistic that the economy will be doing well over the next decade. How will the market for loanable funds as depicted in the accompanying graph be affected?
A. Supply will shift to the right from S1 to S2.
B. Supply will shift to the left from S2 to S1.
C. Demand will shift to the right from D1 to D2.
D. Demand will shift to the left from D2 to D1.
Offering discounts to senior citizens is
A. a philanthropic decision. B. peak-level pricing. C. price discrimination. D. an inefficient practice.
Changes in the output of a perfectly competitive firm, without any change in the price of the product, will change the firm's
a. total revenue. b. marginal revenue. c. average revenue. d. All of the above are correct.