The calculation of the responsiveness of suppliers to changing prices is represented by
a. cross elasticity
b. supply elasticity
c. the supply coefficient
d. long-run supply
e. market-day supply
B
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The interest rate that banks charge on loans to their best customers is called the:
A) federal funds rate. B) discount rate. C) mortgage interest rate. D) prime rate.
When the MPC gets smaller, the spending multiplier:
a. gets larger. b. gets smaller. c. stays the same. d. gets smaller at low real GDP, and larger at high real GDP. e. gets larger at low real GDP, and smaller at high real GDP.
Since the Red Cross supplies 95 percent of the blood in the United States, it can be considered a monopolist. Assume that it, in fact, operates like a monopolist. The Red Cross currently charges hospitals and other users $21 for a pint of blood. In order to increase the supply of blood, the government offers the Red Cross a $10 million, lump-sum subsidy. How much more blood supply will the subsidy generate?
A. About 500,000 pints B. Somewhere between 100,000 and 500,000, depending on demand elasticity C. Somewhere between 100,000 and 500,000, depending on the elasticity of supply D. Zero
Refer to the given data. The domestic equilibrium prices of steel in Alpha and Beta are:
Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta. Q s is domestic quantity supplied and Q d is domestic quantity demanded.
A. $5 and $4, respectively.
B. $2 and $4, respectively.
C. $3 and $2, respectively.
D. $1 and $2, respectively.