In the classical model, an increase in government spending shifts the
a. demand for loanable funds to the right.
b. demand for loanable funds to the left.
c. supply of loanable funds to the right.
d. supply of loanable funds to the left.
A
Economics
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Under the long-run equilibrium, for perfectly competitive markets without any government intervention,:
a. producer surplus is greater than consumer surplus. b. consumer surplus is greater than producer surplus. c. the sum of consumer and producer surplus is maximized. d. consumer surplus is maximized. e. producer surplus is maximized.
Economics
If consumers completely cease purchasing a product when its price increases by any amount, then demand is:
A. unit elastic. B. perfectly inelastic. C. perfectly elastic. D. inelastic.
Economics