Figure 7-12
Which of the graphs in Figure 7-12 shows a marginal physical product curve that exhibits first increasing and then diminishing marginal returns to sunlight?
A. (a)
B. (b)
C. (c)
D. (d)
Answer: C
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The law of supply states that, other things remaining the same,
A) demand increases when supply increases. B) if the price of a good increases, firms buy less of it. C) if the price of a good increases, the quantity supplied increases. D) as people's income increase, the supply of goods increases. E) if the price of a good increases, the supply increases.
When national output declines, the economy is said to be in
A) an expansion. B) a deflation. C) an inflation. D) a recession.
Suppose you purchase a one-year bond that has a $450 coupon and a face value of $5,000, and immediately after you purchase the bond, new bonds are issued that are otherwise identical, except they have coupons of $375
If you sell your bond, you will A) suffer a loss of $5.76. B) suffer a loss of $412.84. C) receive a gain of $69.77. D) receive a gain of $418.60.
When Electronic Arts, the company behind the games Zuma and Plants vs. Zombies, sold stock to the public for the first time in September 1989, funds were being raised in a ________ market, and when those newly issued shares are resold to other buyers,
the sales take place in a ________ market. A) primary; primary B) primary; secondary C) secondary; primary D) secondary; secondary