Interest rates in the loanable funds market vary with respect to
a. your rate of time preference.
b. risk.
c. expected inflation.
d. all of the above.
e. both b and c above.
E
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Assume that the supply curve is horizontal because marginal cost is constant at $10. John, Robert, and Jimmy each value one compact disc at $20 but only Jimmy and John value a second compact disc (Jimmy at $5 and John at $15). If a social planner dictates that five compact discs be produced and distributed to John, Robert, and Jimmy, then even if the compact discs are allocated based on demand, this market will lose out on $___ of value.
a. $5. b. $10. c. $15. d. There will be no lost value as five compact discs is the efficient level..
China's alternative to the IMF is called
A) AIIB. B) ASEAN. C) MERCOSUR. D) TIIP.
This agency is responsible for regulating the quality and safety of foods, health and medical products, pharmaceuticals, cosmetics, and animal feed
A) Environmental Protection Agency B) Food and Drug Administration C) Equal Employment Opportunity Commission D) Federal Trade Commission
Refer to Figure 6.1. The area RSTU represents
A. economic surplus. B. the loss incurred by the monopolist. C. the profit earned by the monopolist. D. deadweight loss.