The figure above shows the loanable funds market. The equilibrium real interest rate is ________ percent, and the equilibrium quantity of loanable funds is ________
A) 4; $1.4 trillion
B) 6; $1.6 trillion
C) 4; $1.8 trillion
D) 8; $1.8 trillion
E) 8; $1.4 trillion
B
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Which of the following is NOT an event that causes BOTH the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve to shift?
A) a change in an economy's endowments of the factors of production B) a change in an economy's labor supply C) a temporary change in the price of a key input D) technological changes
After a nation starts importing a good from overseas, the domestic price of the good
A) stays the same. B) rises. C) falls. D) might change, but more information about what the country exports is needed to determine if the price rises, falls, or does not change. E) might change, but more information about what else the country imports is needed to determine if the price rises, falls, or does not change.
Reverse auctions
A) require customers to fly at unpopular times. B) allow firms to identify customers that have very elastic demand curves. C) Both A and B. D) are used to keep high paying customers from spending too little money.
What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell?
a. Price would fall, and the effect on quantity would be ambiguous. b. Price would rise, and the effect on quantity would be ambiguous. c. Quantity would fall, and the effect on price would be ambiguous. d. Quantity would rise, and the effect on price would be ambiguous.