Neo-Keynesians view the Phillips curve as a permanent relationship, unchanging over time
Indicate whether the statement is true or false
F
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Suppose the current price of a pound of steak is $6 per pound and the equilibrium price is $9 per pound. What takes place?
A) There is a shortage, so the price rises and quantity demanded increases. B) There is a shortage, so the price falls and quantity demanded increases. C) There is a surplus, so the price falls and quantity demanded increases. D) There is a shortage, so the price falls and quantity demanded decreases. E) There is a shortage, so the price rises and quantity demanded decreases.
According to the theory of rational ignorance, which of the following prevents people from voting?
a. If they feel their vote will not matter in the election b. If they will be required to show voter identification c. If they believe that politicians are unethical d. If they do not belong to a specific political party
When more firms enter an industry:
A. the amount produced by each of the new firms will be less than the amount produced by each of the original firms. B. the industry supply curve will shift right. C. the industry supply curve will shift left. D. the amount produced by each of the new firms will be greater than the amount produced by each of the original firms.
A coupon bond is a bond that:
A. pays the owner the sum of the coupons at the bond's maturity. B. always sells at a price that is less than the face value. C. provides the owner with regular payments. D. pays a variable coupon rate depending on the bond's price.