Which of the following workers is most likely to lose his/her job during a recession?
A. A barber
B. A farmer
C. A baker
D. A construction worker
Answer: D
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Business cycles disappear when firms
A) hold nominal wages constant as nominal demand changes. B) hold prices constant as nominal demand changes. C) change prices proportionately with nominal demand changes. D) change wages proportionately with nominal demand changes.
You turn to the bond market page of a newspaper and look under the column headed "Net Chg" and see that it says, "-1/4" this indicates that
A) the closing price for the bond on this particular day was $2.50 lower than on the previous day. B) the closing price for the bond on this particular day is $0.25 lower than on the previous day. C) the yield for the bond has fallen by 0.25% compared to the previous day. D) the yield for the bond has fallen by 0.25% compared to exactly one year ago.
_____________ Capital Markets Small homogeneous units (shares) of ownership in assets trade in public exchanges Many buyers and sellers Price quotes available for all to see Characterized by a high degree of liquidity Informationally efficient
Fill in the blank(s) with the appropriate word(s).
The latest Kanye West album is available to be downloaded for $11.99. Is this price a rationing device?
a. No, the album will be sold to anyone having the required number of dollars. b. Yes, many will not buy the album because they are unwilling to sacrifice other things $11.99 will buy. c. No, for price to be a rationing device, it must be so high that only one unit of the item is sold. d. Yes, since that is a reasonable price.