Ceteris paribus, an increase in the price of a good will cause the
a. quantity demanded of the good to increase.
b. quantity supplied of the good to decrease.
c. producer surplus derived from the good to increase.
d. supply of the good to decrease.
C
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Members of the Federal Reserve Board of Governors
A) are confirmed by the House of Representatives. B) frequently need to deal with political pressures. C) are members of the Federal Open Market Committee. D) are appointed to 4 year terms.
In the neoclassical growth model, n increase in the saving rate results in
a. faster permanent growth without a resultant effect on the equilibrium growth rate. b. faster temporary growth without an effect on the long-run equilibrium growth rate. c. faster temporary growth with a resultant effect on the equilibrium growth rate. d. None of the above
Bill lives in Montana and likes to grow zucchini. He applies fertilizer to his crops twice during the growing season and notices that the second layer of fertilizer increases his crop, but not as much as the first layer. What economic concept best explains this observation?
a. The law of diminishing marginal utility. b. The law of diminishing returns. c. Return equalization principle. d. The principal-agent problem.
The global capital market is very competitive and efficient
Indicate whether the statement is true or false