Which of the following is true if there is a surplus of loanable funds?
What will be an ideal response?
The quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is above equilibrium.
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Accurate measurement of GDP is important to business decision-makers because this information will help them better determine the
a. general happiness of a country's citizens. b. course of the economy and the direction of demand for their products. c. economic well-being of a particular group within a country. d. amount of leisure time available and the quality of life in a country.
If the average variable cost curve is above the marginal cost curve, then
A) marginal costs must be decreasing. B) average variable costs must be increasing. C) marginal costs can be either increasing or decreasing. D) marginal costs must be increasing.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
occurs at the point where the demand curve and supply intersect
What will be an ideal response?