Treasury bonds are so safe (risk-free) that they often pay relatively low returns
Indicate whether the statement is true or false
True
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Something is a normal good if
A) the demand for it decreases when its price rises. B) the demand for it decreases when its price falls. C) the demand for it increases when income rises. D) the demand for it increases when income falls.
If price changes by one firm induce rival firms selling close substitutes to alter their prices,
A) firms will be able to raise their prices without fear of losing sales. B) the demand curve will shift in response to a change in price. C) the original firm faces an elastic demand curve. D) the original firm faces an inelastic demand curve. E) there is no competition between the rival firms.
Price elasticity of demand is calculated as
a. the percentage change in quantity demanded divided by the percentage change in price b. the percentage change in price divided by the percentage change in quantity demanded c. the absolute change in quantity demanded divided by the absolute change in price d. the absolute change in price divided by the absolute change in quantity demanded e. none of the above
All output combinations that lie outside a production possibilities curve are attainable with available resources and technology.
Answer the following statement true (T) or false (F)