Select the phrase that correctly completes the following statement. "A positive change in technology caused an increase in the supply of flat-screen televisions. As a result ________."
A) the price of flat-screen televisions decreased. The lower price caused the supply of flat-screen televisions to decrease
B) the equilibrium quantity of flat-screen televisions decreased
C) the price of flat-screen televisions decreased and the demand for flat-screen televisions increased
D) the price of flat-screen televisions decreased and the quantity demanded of flat-screen televisions increased
D
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The price elasticity of cigarettes has been estimated as -0.5. The government has decided that they want to decrease the amount that people in the United States smoke by 10%. It follows that they must institute measures that would raise the price of cigarettes by
a. 5% b. 10% c. 15% d. 20%
Which of the following are TRUE concerning the distinction between interest rates and returns?
A) The rate of return on a bond will not necessarily equal the interest rate on that bond. B) The return can be expressed as the difference between the current yield and the rate of capital gains. C) The rate of return will be greater than the interest rate when the price of the bond falls during the holding period. D) The return can be expressed as the sum of the discount yield and the rate of capital gains.
During the worst year of the Great Depression, according to the official statistics, about what percentage of the labor force was unemployed?
(a) 10% (b) 15% (c) 25% (d) 35%
Failure of market outcomes can occur even when the market is functioning properly.
Answer the following statement true (T) or false (F)