A shift of the supply curve is caused by a change in a good's own price.
Answer the following statement true (T) or false (F)
False
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A bond is a financial security that represents a promise to repay
A) a yearly interest payment and a principal payment. B) a yearly principal payment only. C) a yearly interest payment only. D) Bonds are investments that do not promise any kind of repayment.
Consider two perfectly competitive labor markets for jobs that require different skills but are otherwise equivalent. One job currently pays a higher wage than the other job. This wage differential
a. cannot persist in the long run b. can persist only if there are significant differences in the nonmonetary characteristics of the two jobs c. can persist if workers in the lower-wage job lack the ability to gain the skills needed for the higher-wage job d. will be eliminated as labor supply to the higher-wage job increases e. is likely unrelated to different workers' endowments of talent and intelligence
Purchasers of corporate bonds lend money to a corporation
a. True b. False Indicate whether the statement is true or false
Which one of the following factors would increase the demand for oranges?
a. an increase in the price of grapefruit, a substitute product b. a reduction in the price of bananas, a substitute product c. development of a line of high-yield orange trees that are also more freeze resistant d. a decrease in consumer income