The basic problem addressed in economics is
a. scarce resources and unlimited wants
b. scarce wants and unlimited resources
c. cost minimization
d. how to manage a financial portfolio
e. unlimited time and unlimited potential
A
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Which of the following is considered a benefit of inflation?
A) the option of a negative real interest rate B) money illusion C) seignorage D) all of the above E) none of the above
If there is surplus of loanable funds, then
a. the supply for loanable funds shifts right and the demand shifts left. b. the supply for loanable funds shifts left and the demand shifts right. c. neither curve shifts, but the quantity of loanable funds supplied increases and the quantity demanded decreases as the interest rate rises to equilibrium. d. neither curve shifts, but the quantity of loanable funds supplied decreases and the quantity demanded increases as the interest rate falls to equilibrium.