The income elasticity of demand for all goods taken together must be

In 2008 the fall in the value of the stock market decreased people's wealth. As a result of this change alone, the supply of loanable funds

A) did not change, and there was a downward movement along the supply of loanable funds curve. B) did not change, and there was an upward movement along the supply of loanable funds curve. C) decreased. D) did not change, and there was no movement along the supply of loanable funds curve. E) increased.

The small group of East Asian countries that experienced high rates of growth in the 1980s and 1990s are referred to as

A) industrial countries. B) newly industrializing countries. C) countries with low standards of living. D) education-deprived countries.