Differences in interest rates for different type of loans are due to:
A. the length of time the borrower has to repay the loan.
B. the amount of the loan.
C. government policy.
D. exchange rate
A. the length of time the borrower has to repay the loan.
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A formal agreement among the firms in an industry to coordinate their production and pricing decisions in order to earn monopoly profits is known as
a. price discrimination b. the kinked demand curve c. monopolistic competition d. a cartel e. joint competition
Structural unemployment occurs when: a. automation reduces the need for welders in Detroit
b. frictional unemployment exceeds 5 percent of the labor force. c. steelworkers are laid off due to a downturn in the economy. d. a person leaves a job to seek a better position and has not yet found the job he or she wants.
Interest is the payment for the use of funds used to produce capital.
Answer the following statement true (T) or false (F)
Exhibit 4-2 Supply and demand curves
The market shown in Exhibit 4-2 is initially in equilibrium at E3. Changes in market conditions result in a new equilibrium at E4. This change is stated as a(n):
A. increase in demand and an increase in supply. B. decrease in demand and a decrease in quantity supplied. C. increase in supply and an increase in quantity demanded. D. decrease in supply and a decrease in quantity demanded.