As more firms are attracted to an industry, the supply curve can be expected to shift to the right

Recall from Chapter 5: interest rates in the free market (without artificial lowering by the Fed) are largely determined by

A) Congress. B) arbitrary bank lending practices. C) household saving and consumption preferences. D) tax revenues and lobbying demands.

If a good's demand function is Q = 30 - 3P, then calculate the price elasticity of demand when

a. good price is $3 using the point elasticity formula b. good price is $4 using the point elasticity formula c. good price decreases from $4 to $3, using the arc elasticity formula d. good price is $5, using the point elasticity formula e. good price increases from $4 to $5, using the arc elasticity formula