People will buy more of a normal good when their income decreases.
Answer the following statement true (T) or false (F)
False
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There was an extensive black market (illegal market) for many consumer products in the United States during World War II. A likely explanation of the black market is that:
A. the prices of goods were artificially held down by price controls. B. black markets were legal during the war. C. goods were not subject to price controls. D. gasoline rationing greatly restricted civilians from driving to stores.
Which of the following labor market statistics best indicates the amount of labor that is available to the economy from a given working-age population?
A) unemployment rate B) discouraged-worker ratio C) labor force participation rate D) the ratio of minimum wage to inflation
The underemployed are not included among the unemployed because they are working.
Answer the following statement true (T) or false (F)
If a corporate bond with a face value of $20,000 pays yearly coupon payments of $500, what is the coupon rate?
A) 2.5% B) 4% C) 25% D) 40%