Special interest groups often:
a. represent broad questions of public interest.
b. pursue rent seeking behavior.
c. do not use lobbying techniques.
d. have no effect on the political process.
b
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The supply of loanable funds schedule shows that the
A) higher the real interest rate, the more the supply of loanable funds curve shifts rightward. B) higher the real interest rate, the greater the quantity of loanable funds supplied. C) higher the real interest rate, the greater the opportunity cost of supplying loanable funds. D) higher the real interest rate, the lower the profit from making new investment. E) lower the real interest rate, the greater the quantity of loanable funds supplied.
If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until
A) the quantity demanded equals the quantity supplied. The product will then no longer be scarce. B) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price. C) only wealthy consumers will be able to afford the product. D) quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price.
Refer to Table 19-5. The value of each automobile in gross domestic product equals
A) $7,000. B) $15,000. C) $18,000. D) $25,000.
A monopolistically competitive firm may earn above normal profits or may incur losses in the short run
a. True b. False Indicate whether the statement is true or false