The basic forces driving the "invisible hand" are
a. government and business.
b. information and computer technology.
c. competition and self-interest.
d. cooperation and altruism.
c
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Government production accounts for about half of all GDP in the United States.
Answer the following statement true (T) or false (F)
A cartel is
A. always successful in raising profits. B. a formal agreement among firms to collude. C. a form of covert collusion. D. legal in the United States.
When output is below potential and the policy rate has hit the floor of zero, the resulting fall in inflation leads to ________ real interest rates, which ________ output further, which causes inflation to fall further
A) lower; increase B) higher; depress C) higher; increase D) lower; depress
If there is surplus of loanable funds, then
a. the supply for loanable funds shifts right and the demand shifts left. b. the supply for loanable funds shifts left and the demand shifts right. c. neither curve shifts, but the quantity of loanable funds supplied increases and the quantity demanded decreases as the interest rate rises to equilibrium. d. neither curve shifts, but the quantity of loanable funds supplied decreases and the quantity demanded increases as the interest rate falls to equilibrium.