Suppose that the initial supply of loanable funds curve is SLF1. In the figure above, an increase in the real interest rate leads to
i. a shift in the supply of loanable funds curve from SLF1 to SLF2.
ii. a shift in the supply of loanable funds curve from SLF1 to SLF3.
iii. a movement along the supply of loanable funds curve SLF1.
iv. no change whatever.
A) i and iii B) iv only C) ii only D) i only E) iii only
E
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Jan is attending college and studying to be an investment broker. To improve her chances of employment following college, she has interned at a top brokerage firm during the last two summers. Jan's internship has increased her
A) natural labor. B) human capital. C) consumption services. D) natural resources. E) entrepreneurship capital.
Which of the following is an implication of the law of diminishing returns?
a. Total output will decline as more workers are hired. b. In the long run, average total cost will eventually decline as output is expanded. c. In the short run, expansion of output will eventually lead to increases in marginal cost and average total cost. d. A doubling of all inputs will lead to more than a doubling of output.