Consider the market for gasoline. Buyers
a. and sellers would lobby for a price ceiling.
b. and sellers would lobby for a price floor.
c. would lobby for a price ceiling, whereas sellers would lobby for a price floor.
d. would lobby for a price floor, whereas sellers would lobby for a price ceiling.
c
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Everything else equal, an increase in the supply of loanable funds will
a. lower the interest rate and reduce investment spending b. lower the interest rate and increase investment spending c. increase the demand for funds d. increase the interest rate and reduce investment spending e. increase the interest rate and increase investment spending
If the Fed wanted to shift to a restrictive monetary policy and reduce the money supply, it could
a. decrease the reserve requirements imposed on commercial banks. b. purchase U.S. government securities and other financial assets in the open market. c. decrease the interest rate on loans extended to banks and other financial institutions. d. increase the interest rate paid on excess reserves encouraging banks to hold excess reserves rather than extend more loans.
The total revenue effect of a movement along a demand curve can best be predicted using the
A. Law of demand. B. Utility-maximizing rule. C. Law of diminishing marginal utility. D. Price elasticity of demand.
A relationship between two variables in which one variable increases at the same time that the other increases is called
A) nonlinear. B) constant. C) inverse. D) direct.