3rd Edition

ISBN: 9781319113278

Author: David Anderson, Margaret Ray

Publisher: Worth Publishers

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 29, Problem 3MCQ

To determine

Determinants that will increase the demand for loanable funds.

Expert Solution & Answer

Explanation of Solution

In simple words, there are ample amount of uses for which the funds are loaned. Although, the majority of the loans in any economy are taken by the business owners to start or expand their operations for greater profits. Governments also encourage such practices to promote economic growth. Hence, if there are more business opportunities in an economy the demand for loanable funds will also increase.

Hence, the correct option is B.

Chapter 29, Problem 2MCQ

Chapter 29, Problem 4MCQ

Chapter 29 Solutions

Krugman's Economics For The Ap® Course

Ch. 29 - Prob. 1CYU Ch. 29 - Prob. 2CYU Ch. 29 - Prob. 3CYU Ch. 29 - Prob. 1MCQ Ch. 29 - Prob. 2MCQ Ch. 29 - Prob. 3MCQ Ch. 29 - Prob. 4MCQ Ch. 29 - Prob. 5MCQ Ch. 29 - Prob. 6MCQ Ch. 29 - Prob. 7MCQ

Ch. 29 - Prob. 1FRQ Ch. 29 - Prob. 2FRQ

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