A bond with a high yield
a. gives investors a high return on their investments.
b. gives investors a low return on their investments.
c. sells for a high price.
d. sells for a low price.
a
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If a firm is maximizing profit, it produces at the point where
a. MR>MC b. MR = MC c. TR>TC d. TR = TC
If a perfectly competitive firm is incurring a short-run loss, it
a. then will incur a long-run loss b. will shut down c. will continue to operate in the short run if its fixed cost is covered d. will continue to operate in the short run if its variable cost is covered e. will raise its price in the short run
With full exchange rate convertibility, individuals can:
A. not exchange their currency for the currency of any other country. B. exchange their currency for the currency of any other country, but only to purchase assets from other countries. C. exchange their currency for the currency of any other country for any purpose they choose. D. exchange their currency for the currency of any other country, but only to purchase goods produced in other countries.
If the calculated price elasticity of demand between two points is -1.5, demand is
A. inelastic. B. elastic. C. unit-elastic. D. unresponsive to price.