In 2006, before the Great Recession, the economy was booming and consumer demand was high, making the:
A. demand for loanable funds increase and shift to the right.
B. demand for loanable funds decrease and shift to the left.
C. supply of loanable funds increase and shift to the right.
D. supply of loanable funds decrease and shift to the left.
A. demand for loanable funds increase and shift to the right.
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Refer to the table above. If the firm is a monopolistic competitor, up to what output will the firm produce?
A) 2 units B) 4 units C) 5 units D) 6 units
Many people believe that the study of economics is focused on money and financial markets. Based on your reading of the chapter, how would you define economics?
What will be an ideal response?
The alternative quantities demanded for a given time period at different possible prices is known as
A) absolute demand. B) a demand schedule. C) real demand. D) constant demand.
Which of the following statements is true?
a. Exports tend to decrease economic efficiency. b. A nation should specialize in producing a good in which it has an absolute advantage. c. A nation should specialize in producing a good only when it has both an absolute and a comparative advantage. d. A nation should specialize in producing a good in which it has a comparative advantage. e. International trade does not reflect the benefits of specialization.