During the financial crisis in 2007 and 2008, financial institutions believed that default risks were higher. As a result, there was ________ in the supply of loanable funds and a ________ in the real interest rate

The government can turn a shortage of a good into a surplus by

A) imposing a sufficiently low ceiling price. B) offering subsidies to producers. C) persuading producers to increase the amount of the good available. D) supporting the price of the good above the market clearing level.

One year, the government boosted regulated taxi fares in New York City by 15 percent with the expectation that the total revenue from taxi rides would also increase by 15 percent

The taxi commission that authorized this fare increase must have believed that the demand for taxi service was A) elastic, but not perfectly elastic. B) inelastic, but not perfectly inelastic. C) unit elastic. D) perfectly inelastic.