If an individual's income increases
A) the person's indifference curves shift outward in a parallel manner.
B) the person's budget line shifts outward in a parallel manner.
C) there will be no impact on the individual's budget line or indifference curves.
D) None of the above answers is correct.
B
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A state that has a large pool of oil embedded in porous rock deep below its surface is
A. Kansas. B. Delaware. C. Florida. D. North Dakota.
If the rate of inflation in a given time period turns out to be lower than lenders and borrowers anticipated, then the effect will be a:
a. redistribution of wealth from lenders to borrowers. b. net gain in purchasing power for borrowers relative to lenders. c. net loss in purchasing power for lenders relative to borrowers. d. redistribution of wealth from borrowers to lenders.
Which of the following is not a characteristic of a bond?
a. its tax treatment b. its credit risk c. its term d. its dividend yield
Fiat money
a. is worthless. b. has no intrinsic value. c. may be used as a medium of exchange, but is not legal tender. d. refers to highly liquid assets that do not serve as a medium of exchange.