Lauren and Katy each bought a new bike lock for $20. Both Lauren and Katy would have paid $25 for the lock. Katy's consumer surplus equaled

The short-run Phillips curve is ________ curve along which an increase in the unemployment rate is associated with ________ in the inflation rate

A) a downward sloping; a decrease B) a vertical; no change C) a downward sloping; no change D) an upward sloping; an increase E) a horizontal; no change

Suppose many businesses want to increase their stock of capital goods and decide to borrow funds to do it. Which would be the likely result of this event?

A. Interest rates would increase B. Interest rates would decrease C. The equilibrium quantity of loanable funds would decrease D. The equilibrium quantity of loanable funds would remain unchanged