The slope of the credit demand curve from the text book implies that the:
A) higher the rate of taxation, the lower the quantity of credit demanded.
B) higher the real rate of interest, the higher the quantity of credit demanded.
C) higher the real rate of interest, the lower the quantity of credit demanded.
D) higher the rate of taxation, the higher the quantity of credit demanded.
C
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GDP ignores all of the following EXCEPT
A) household production. B) changes in the environment that occur in the production of output. C) the value of leisure time. D) products produced in other countries that are sold in the United States.
Answer the following statements true (T) or false (F)
1. Market demand and the firm’s demand curve coincide in a monopoly. 2. The AR and MR curves of a monopoly are identical. 3. A monopoly can sell all that it desires at any given price. 4. The demand for the product of a monopolist is perfectly inelastic. 5. A monopoly cannot suffer a loss.