A shortage occurs if borrowers want more loanable funds than savers want to supply

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Specialization and trade exploit differences in productivity across workers and

A) make everyone better off. B) only benefit the importer. C) make everyone worse off. D) only benefit the exporter.

Economics

In the figure above, for each CD, the price a consumer is willing to pay is equal to the

A) economy's marginal social cost of producing that CD. B) consumer's own marginal benefit from consuming that CD. C) consumer's total consumer surplus. D) Both answers A and B are correct.

Economics

If the absolute value of the price elasticity of demand for a product is less than 1, then

A) quantity demanded is very sensitive to price changes. B) demand is inelastic. C) demand is unit-elastic. D) demand is elastic.

Economics

Which diagram best represents the problem faced by farms in the long run?



A.  A.
B.  B.
C.  C.
D.  D.

Economics