Which of the following is not a possible implication of federal budget deficits?
a. Crowding out
b. Increased interest rates
c. Inflation
d. Increased trade deficits
e. Depreciation of the dollar
e
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Explain why one can write the demand for money as the price level times a function of the interest rate and real income as follows: = PxL (R, Y)
What will be an ideal response?
If a price floor is not binding, then
a. the equilibrium price is above the price floor. b. the equilibrium price is below the price floor. c. there will be a surplus in the market. d. there will be a shortage in the market.
Total utility can be positive even when marginal utility is negative.
Answer the following statement true (T) or false (F)
On the basis of the given information, we:
Use the labor demand data on the left and the labor supply data on the right in answering the following question:
A. can say that the labor supply curve facing the firm is nonexistent.
B. cannot say whether the firm's product market is purely or imperfectly competitive.
C. can say that the firm is selling its product in a purely competitive market.
D. can say that the firm is selling its product in an imperfectly competitive market.