An increase in real interest rates will lead to an increase in the quantity of loanable funds supplied
a. True
b. False
Indicate whether the statement is true or false
True
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An inward shift of the production possibilities curve
A. represents an economic decline. B. means that the previous levels of production are now unobtainable except under unusual circumstances such as war. C. means that the economy can produce more of both goods. D. represents an economic decline AND means that the previous levels of production are now unobtainable except under unusual circumstances such as war.
Table 34-2 ? ? Output per Unit Labor Input ? England Portugal Cloth 20 24 Wine 2 12 Using the data from Table 34-2, suppose England transfers 2 units of labor from wine to cloth and Portugal transfers 1 unit from cloth to wine. The combined production of wine and cloth will be increased by
A. 16 wine, 8 cloth. B. 16 wine, 16 cloth. C. 12 wine, 12 cloth. D. 8 wine, 16 cloth.
In the above figure, when the price of Good B increases, the result can be shown by
A. the movement from D1 to D2 in Graph A. B. the movement along D0 from P2 to P1. C. the movement along D0 from P1 to P2. D. the movement from D2 to D1 in Graph A.
A consumer who has chosen the right mix of goods and services to maximize his or her utility is said to have achieved
A) consumer equilibrium. B) consumer benefit. C) consumer surplus. D) consumer optimum.