If a bond was to pay off one year from now for $321 and the interest rate is 7 percent, what is the price of the bond?
A) $147 B) $279 C) $300 D) $342
C
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Answer the following statement(s) true (T) or false (F)
1. A parallel shift in the budget line is caused by changes in the relative prices of the two goods. 2. Parallel shifts in the budget line are considered when deriving the demand curve for a good. 3. An Engel curve shows the relationship between price and quantity demanded. 4. Normal goods have upward-sloping Engel curves. 5. If an Engel curve is downward sloping, then one of the two goods must be inferior.
An increase in the tax wedge associated with a given economic activity will decrease the level of that activity
Indicate whether the statement is true or false
Producing a homogeneous product occurs in which of the following industries?
A) monopolistic competition and perfect competition B) perfect competition only C) oligopoly, monopolistic competition, and perfect competition D) oligopoly and perfect competition
What is a problem with anti-trust laws involving restrictive practices?
a. The practices are not always illegal. b. So many firms engage in the practices, it is hard to prosecute all the firms. c. The practices do not cause prices to increase in all cases. d. What practices are illegal is clearly understood.