Which of the following is the correct way to describe equilibrium in a market?
a. At equilibrium, demand equals supply.
b. At equilibrium, quantity demanded equals quantity supplied.
c. At equilibrium, market forces are no longer at work.
d. Equilibrium is a tendency, a state of perpetual motion.
e. Equilibrium is the best combination of price and quantity.
b
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Other things the same, an increase in the U.S. interest rate causes the quantity of loanable funds supplied to
a. rise because net capital outflow and domestic investment rise. b. rise because national saving rises. c. fall because net capital outflow and domestic investment rise. d. fall because national saving falls.
Approximately how many millions of Americans do not have health insurance (prior to gaining coverage through the Patient Protection and Affordable Care Act)?
A. 27. B. 49. C. 58. D. 63.