Answer:
A. Jordan specializes in household production, while Chris specializes in marketplace work.
Explanation:
Chris and Jordan both can work for their household. The best way is to achieve maximum utility by using the combination of their skills. Chris can go for household work and Jordan can go for marketplace work. They both can use combination of their specialization to achieve maximum utility.
Answer:
d
Explanation:
the more the suppliers the more the competition would be among suppliers to gain customers. As a result, they would offer lower prices in the short run to customers to gain them.
In the long run, suppliers would leave the oversaturated industry and equilibrium would be restored.
Answer:
It would be A) Raina is correct because the loan is a line of credit.
Explanation:
Answer:
Expectation of worse economic condition means it is experiencing recession which expected to become worse in near future. The Fed tends to increase the money supply to induce investment, which bring increase in demand and lead to an increase in real GDP.
The Federal Reserve could try to reduce the impact by <u>buying</u> bonds. This action will result in a <u>higher</u> level of money supply and a <u>lower</u> level of interest rate. The effect of this interest rate change is that there will be <u>more</u> investment and <u>increased</u> real GDP.
