The price system is based on the law of __________________.
Fill in the blank(s) with the appropriate word(s).
supply and demand
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When the coupon rate on newly issued bonds ________ relative to older, outstanding bonds, the market price of the older bond ________
A) decreases; rises in the secondary market B) increases; falls in the primary market C) decreases; falls in the secondary market D) increases; falls in the secondary market
A firm will continue to produce if total revenue is greater than total variable cost even if total revenue is less than fixed cost
a. True b. False
If the CPI for year 1 was 106.1, while that for year 2 was 112.4, then the inflation rate for year 2 was:
(a) 5.9%; (b) 6.3%; (c) 5.6%; (d) 12.4%.
Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):
a. flattening of the curve.
b. movement from one point to another point along the curve.
c. outward shift of the curve.
d. movement from a point on the curve to a point inside the curve.