Commandeering resources is less efficient than commandeering money
Indicate whether the statement is true or false
T
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If a tax is placed on one good and not another, the effect that causes you to buy less of the taxed good because it has become relatively more expensive is called the
A. domino effect. B. substitution effect. C. net effect. D. income effect.
When there is a decrease in labor supply, real wages are likely to
A) remain the same. B) decrease. C) increase. D) allow less leisure time.
The benefits to a program are more difficult to quantify in dollar terms that the costs to a program
a. True b. False
Which of the following describes the relationship between bond prices and bond yields?
a. There is a positive relationship between the yield and the price. b. Every 1% increase in the bond price results in a 2% increase in the yield. c. When the bond price is greater than the annual interest, yield is greater than one. d. Bond price divided by the bid price is equal to the yield. e. There is an inverse relationship between the yield and the price.