At any particular quantity on the TC, its slope will be
A. the same as the slope of the TVC.
B. greater than the slope of the ray out of the origin to that point on the TC.
C. smaller than the slope at the quantity on the TVC.
D. greater than the slope at the quantity on the TVC.
Answer: A
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An assumption used in the quantity theory of money is that
A) velocity is constant. B) the money supply is constant. C) nominal Gross Domestic Product (GDP) is constant. D) the price level is constant.
The income elasticity of demand is a measure of
A) how demand for a product changes when the price of a substitute or complement product changes. B) how responsive consumers are to changes in the price of a product. C) how responsive suppliers are to changes in the price of a product. D) the extent to which the demand for a good changes when income changes. E) the extent to which the supply of a good changes when the demand changes as a result of a change in income.
The first sale to the general public of stock in a corporation is referred to as
A. A public bond offering. B. An initial public offering. C. A public stock auction. D. An original public sale.
A national chain of grocery stores wants to finance the construction of several new stores. The firm has limited internal funds, so it likely will
a. demand the required funds by buying bonds. b. demand the required funds by selling bonds. c. supply the required funds by buying bonds. d. supply the required funds by selling bonds.