Demand describes how much of something people:
A. be able to buy, but might not want to buy under certain circumstances.
B. want, but may not necessarily be able, to buy under certain circumstances.
C. are willing and able to sell under certain circumstances.
D. are willing and able to buy at alternative prices under certain circumstances.
Answer: D
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If one firm in a perfectly competitive industry is somehow able to produce at a lower cost than competing firms in the short run,
a. the competing firms will adopt similar production techniques in the long run. b. the more efficient firm will earn higher profits than the competing firms in the long run. c. the competing firms will earn higher profits than the more efficient firm in the short run. d. the competing firms will go out of business in the long run.
Costs of unemployment include
A) structural unemployment. B) the output lost due to the fact that the economy is not running at full employment. C) reduction in the labor force. D) higher wages.
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model? a. The quantity of real loanable funds per time period rises
and GDP Price Index rises. b. The quantity of real loanable funds per time period falls and GDP Price Index falls. c. The quantity of real loanable funds per time period rises and GDP Price Index falls. d. The quantity of real loanable funds per time period and GDP Price Index remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
An important routine function of the Federal Reserve Bank is to:
A. help large commercial banks develop correspondent relationships with smaller commercial banks. B. advise commercial banks as to the most profitable ways of reinvesting profits. C. provide facilities by which commercial banks and thrift institutions may collect checks. D. supervise the liquidation of the assets of bankrupt state banks.