Which of the following statements is false?
A. A corporate bond typically has face value of $1,000.
B. Corporate bonds typically sell for a price that is equal to the bond's face value.
C. The interest that corporate bonds pay is fully taxable.
D. State and local governments issue municipal bonds.
Answer: B
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Suppose the U.S. government institutes a "Buy American" campaign, in order to encourage spending on domestic goods. What effect will this have on the U.S. trade balance?
Economists suggest that a market can fail if
A. consumers have to pay more than they want to. B. governments dictate prices. C. producers get smaller profits than they desire. D. production or consumption can harm an innocent third party.
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Exhibit 35-1
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If workers become more productive, which of the following would happen in the labor market?
a. Labor supply would increase. b. Labor supply would decrease. c. Labor demand would increase and labor supply would decrease. d. Labor demand would decrease and so would labor supply. e. Labor demand would increase.