In the loanable funds market, a shortage of loanable funds occurs when the
A) supply of loanable funds exceeds demand for loanable funds.
B) quantity of loanable funds supplied exceeds the quantity of loanable funds demanded.
C) demand for loanable funds exceeds supply of loanable funds.
D) supply of loanable funds curve shifts rightward.
E) quantity of loanable funds demanded exceeds the quantity of loanable funds supplied.
E
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The above table shows some (but not all) national income accounting data for a hypothetical country. According to these data, the value of GDP is ________ billion
A) $2100 B) $1850 C) $2000 D) $2050
What's the most common way for a central bank to reduce the money supply?
A) Collect higher taxes B) Sell bonds to the public C) Buy bonds from the government D) Buy bonds from the public
Which of the following is a characteristic of perfect competition?
a. homogeneous products b. many sellers c. many buyers d. all of the above
Answer the following questions true (T) or false (F)
1. A college must decide if it wants to offer more Internet-based classes. This decision involves answering the economic question of "what to produce." 2. One desirable outcome of a market economy is that it leads to a more equitable distribution of income. 3. The government makes all economic decisions in a market economy.