We observe that both the price of and quantity sold of golf balls are rising over time. This is due to:
A) continual improvements in the technology used to produce golf balls.
B) increases in the price of golf clubs over time.
C) decreases in membership fees for country clubs with golf facilities.
D) more stringent professional requirements on the quality of golf balls requiring producers to use more expensive raw materials.
C
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A bank that expects interest rates to fall will
A) want the duration of its assets to be greater than the duration of its liabilities—a positive duration gap. B) want the duration of its assets to be less than the duration of its liabilities—a positive duration gap. C) want the duration of its assets to be greater than the duration of its liabilities—a negative duration gap. D) want the duration of its assets to be less than the duration of its liabilities—a negative duration gap.
When an economy is not producing at its potential output, which of the following is likely?
What will be an ideal response?