Which of the following is NOT a likely impact on the bond market if corporations become convinced that a robust economic recovery is underway?
A) increased demand for bonds
B) increased supply of bonds
C) lower bond prices
D) higher interest rates
A
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Refer to the scenario above. Which of the following will happen if Mike starts charging $30 for mowing lawns that were earlier mowed by their owners?
A) Per capita income will remain unchanged B) GDP will increase. C) GDP will decrease D) Per capita income will decrease. Edwin grows potatoes on his farm. A part of the output is consumed by Edwin's family and Edwin sells the remaining in the market.
The pre-1973 farm price support program resulted in a(n)
a. substantial increase in the number of farmers b. substantial increase in the number of farms c. excess demand for farm goods d. excess supply of farm goods e. major benefit to consumers of farm goods
In Econland population increased from 1 million to 1.1 million, the number of employed workers increased from 500,000 to 600,000, but average labor productivity decreased from $20,000 per worker per year to $19,000 per worker per year. Total output in Econland ________ and the average standard of living ________.
A. increased; increased B. increased; decreased C. decreased; decreased D. decreased; increased
Which of the following is FALSE regarding bilateral monopoly?
A) Bilateral monopoly is a market structure consisting of a monopolist and a monopsonist. B) Bilateral monopoly is defined as a market structure in which a single buyer faces a single seller. C) An example of bilateral monopoly is a state education employer facing a single teachers' union in the labor market. D) The price outcome is easily determined.