Which of the following is an example of a less-than-highly-organized market?
a. the market for U.S. Treasury bonds
b. the market for corn
c. the market for soybeans
d. the market for ice cream
d
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Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; does not change
Typically, as an economy begins to emerge from a recessionary phase of the business cycle
A) investment begins to fall. B) inflation begins to fall. C) unemployment falls immediately. D) unemployment continues to rise.
When economists say an individual possesses a "positive rate of time preference," they mean that she prefers to
a. save rather than consume. b. invest now rather than in the future. c. consume goods and services in the future rather than now. d. consume goods and services now rather than in the future.
What factors are part of the leading economic indicators?
a. Employment, personal income, and production b. Interest rates and average duration of unemployment c. Consumer confidence, consumer spending, and machinery orders d. House sales, personal income, and interest rates