A major purchaser of corporate bonds is
A) state and local governments.
B) money market mutual funds.
C) pension and retirement funds.
D) the Federal Reserve.
C
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The portion of a government's indebtedness owed to foreigners is
A. external debt. B. internal debt. C. not recoverable. D. net debt.
For each outcome below, tell what type of shift must have taken place in either the aggregate demand curve or the long-run aggregate supply curve
(a) In the short run, the price level is unchanged and output rises. (b) In the long run, the price level declines and output is unchanged. (c) In the long run, the price level rises and output declines.
Over the last 50 years or so, the rate of growth of average working hours has been mostly negative
a. True b. False
Figure 7-13
Refer to . A decrease in price from $15 to $10 leads to
a.
a decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range.
b.
a decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range.
c.
a decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range.
d.
a decrease in total revenue of $20, so demand is elastic in this price range.