If people in Pottsville purchase 20 percent more pickles today than they did in 1980,even though the price of pickles has increased 40 percent since 1980, the demand for pickles in Pottsville
A) does not obey the law of demand.
B) has changed since 1980.
C) is relatively elastic.
D) is relatively inelastic.
E) is unit elastic.
B
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If the real interest rate is less than the equilibrium real interest rate, there is a ________ of loanable funds, and ________
A) shortage; savers increase their saving supply to restore the equilibrium B) shortage; borrowers have an easy time finding the funds they want C) surplus; some borrowers cannot find the funds they want D) shortage; some borrowers cannot find the funds they want E) surplus; borrowers have an easy time finding the funds they want
The most efficient way to encourage the growth of an infant industry is through
A) a voluntary export restraint. B) a tariff. C) a subsidy. D) an import quota.