Bond prices and bond yields have a(n) ______________ relationship
A) direct
B) inverse
C) independent
D) positive
B
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Suppose the stock of capital remains constant. By adding more labor, perhaps a second work shift, output
A) remains the same. B) decreases. C) increases. D) becomes more costly.
Demand for a luxury item, such as a yacht, is likely to be
A) income elastic and price inelastic. B) income inelastic and price elastic. C) both income elastic and price elastic. D) both income inelastic and price inelastic.
Which of the following is true?
a. A lower price will increase your consumer surplus by the amount you were buying originally, times the reduction in the price. b. A lower price will leave unchanged your consumer surplus for each of the units you were already consuming, but will increase consumer surplus from increased purchases at the lower price. c. A lower price will decrease your producer surplus for each of the units you were producing, but will not change producer surplus by changing the quantity sold. d. None of the above is true.
Which of the following economies has the lowest ratio of Social Security benefits to GDP in 2006?
a. United Kingdom b. Netherlands c. Canada d. France e. United States