The efficiency of the payments' mechanism affects
a. the speed with which money can be exchanged for other assets.
b. how quickly individual loan applications will be approved.
c. how slowly individuals deplete their cash balances.
d. the speed with which financial institutions can process checks and other funds.
d
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If real GDP is increasing more rapidly than the population, then: a. interest rates must be falling
b. the economy must be experiencing inflation. c. per capita real GDP will be increasing. d. per capita real GDP will be decreasing.
An economy operating to the left of its LRAS is operating ______.
a. inside its production possibilities curve b. outside its production possibilities curve c. on its production possibilities curve d. without a production possibilities curve
A risk-averse investor versus a risk-neutral investor:
A. will take the same risks as the risk neutral investor if the expected returns are equal. B. needs greater compensation for the same risk versus the risk neutral investor. C. will never take a risk, while the risk neutral investor will. D. needs less compensation for the same risk versus the risk neutral investor.
Suppose a drought resulted in a major reduction in the California lettuce crop. In the market for lettuce,
A) the demand curve shifted to the right resulting in an increase in the equilibrium price. B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. C) the supply curve shifted to the left resulting in an increase in the equilibrium price. D) the demand curve shifted to the left resulting in a decrease in the equilibrium price.