The supply of loanable funds curve reflects
a. the inverse relationship between the market interest rate and the quantity of borrowed funds
b. the inverse relationship between the market interest rate and the quantity of saving
c. the direct relationship between the market interest rate and the quantity of borrowed funds
d. the direct relationship between the market interest rate and the quantity of saving
e. the direct relationship between the market interest rate and the quantity of present consumption
D
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A graph of total fixed cost
a. is a downward sloping line. b. is a straight horizontal line. c. is an upward sloping line. d. has a U-shape.
Which of the following statements best describes price ceilings?
a. A price ceiling that is set at a relatively high level is nonbinding. b. A price ceiling that is set at a relatively low level is nonbinding. c. A price ceiling that is set at a relatively high level will have no practical effect unless the equilibrium price falls below the price ceiling. d. A price ceiling that is set at a relatively low level will have no practical effect unless the equilibrium price soars high enough to exceed the price ceiling.