When the real interest rate ________ the equilibrium real interest rate, there is a ________ of loanable funds and the real interest rate ________
A) is less than; shortage; falls
B) is less than; surplus; rises
C) exceeds; surplus; rises
D) exceeds; surplus ; falls
E) exceeds; shortage; rises
D
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Which of the following is not true about a profit-maximizing monopolist?
a. The monopolist faces the downward-sloping market demand curve. b. The monopolist always earns an economic profit. c. The price of output exceeds marginal revenue. d. The monopolist chooses output where marginal revenue equals marginal cost. e. All of these are true.
An intermediate good is
A) always counted when measuring GDP because it doesn't represent time spent in production of a final good or service. B) a good whose value is of neither a high grade nor a low grade. C) a good that is sold to the government and then redistributed to the poor. D) any good that is resold by its purchaser rather than used as is.