Which of the following is a widely-used and closely-watched forecasting tool concerning the future direction of the macro-economy?
a. the excess reserves of commercial banks
b. the Phillips curve
c. the index of leading indicators
d. the current budget deficit or surplus
e. the velocity of the M1 money supply
C
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From Example 1.2 in the textbook, Pindyck and Rubinfeld distinguish between the mass market and dealer market for bicycles. Although there are many dealers in the U.S. and only a few mass merchandisers, we should expect the dealer market to be somewhat less competitive than the mass market. Why?
D B and C are correct. A Due to their differences in quality and performance, dealer bicycles are not close substitutes. (A) C Dealers are small sellers and have little control over bicycle prices. B The geographic extent of the market for dealer bicycles is typically small, so the individual sellers do not have many local competitors. (B) E A and B are correct.
If the supply of loanable funds curve shifts rightward from the curve shown in the figure above, the shift could be the result of
A) a decrease in the demand for loanable funds. B) a decrease in disposable income. C) a decrease in the supply of loanable funds. D) a fall in expected future income. E) an increase in wealth.