Which of the following statements about the loanable funds market is correct?
a) The actions of investors affect the supply curve in the market.
b) The actions of investors affect the demand curve in the market.
c) The actions of savers affect the demand curve in the market.
d) The actions of investors affect both the demand curve and the supply curve in the market.
Ans: b) The actions of investors affect the demand curve in the market.
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When one party to a transaction knows more than the other, ________ is said to exist
Fill in the blank(s) with correct word
Anna's Antiques expects to get three bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability .If three bidders show up at the auction, and two of the bidders are high-value, what would the winning price be?
a. Just above $100 b. $100 c. Just above $70 d. $70