The demand curve for investment in the economy as a function of interest rates is:
A. vertical.
B. horizontal.
C. upward sloping.
D. downward sloping.
Answer: D
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A production possibilities curve shows the relationship between:
A) the price of a good and its quantity supplied. B) the maximum production of one good for a given level of production of another good. C) the different combinations of two inputs used to produce a given quantity of output. D) the quantity of output produced and the amount of inputs required for the production of the output.
In the figure above, suppose the government provides vouchers worth $15,000 per student per year. When the market is in equilibrium, marginal social benefit ________ marginal cost, and the number of students enrolled is ________
A) exceeds; above the efficient quantity B) exceeds; below the efficient quantity C) is below; above the efficient quantity D) is below; below the efficient quantity E) equals; efficient
A free-rider problem occurs when the
A) good is excludable. B) good is offered at no charge. C) good is rival. D) good is nonexcludable.
According to the graph shown, if the market goes from equilibrium to having its price set at $10 then:
A. consumer surplus will decrease from (A + B + C) to (B + C) only.
B. consumer surplus will increase from (A + B + C) to A only.
C. consumer surplus (B + C) will transfer to producers.
D. consumer surplus will decrease by (B + C).