Utility is a measure of a person's level of satisfaction or happiness from the consumption of a particular good

A surplus is said to exist when, at prevailing prices,

A) demand is greater than supply. B) quantity supplied is greater than quantity demanded. C) scarcity is eliminated. D) supply and demand are in harmonic equilibrium.

The slope of the demand for loanable funds curve represents the

a. positive relation between the real interest rate and investment. b. negative relation between the real interest rate and investment. c. positive relation between the real interest rate and saving. d. negative relation between the real interest rate and saving.