An increase in demand for a product will cause the price of the product to rise and supply of the product to increase.
Answer the following statement true (T) or false (F)
False
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Which of the following is not a tool of fiscal policy?
a. Money supply b. Government purchases c. Taxes d. Social Security program e. Unemployment benefits
For an individual's supply curve of labor to be backward bending:
a. the substitution effect must be greater than the income effect. b. the substitution effect must be equal to the income effect. c. the substitution effect must be less than the income effect. d. is an impossibility.
Payments to Social Security recipients would decline if the retirement age were lowered
a. True b. False Indicate whether the statement is true or false
A stock is:
A. a payment made periodically to all shareholders of a company. B. a financial asset that represents partial ownership of a company. C. an agreement in which a lender gives money to a borrower in exchange for a promise to repay the amount loaned plus an agreed-upon amount of interest. D. a promise by the bond issuer to repay the loan, at a specified maturity date, and to pay periodic interest at a specific percentage rate.