Which of the following is a characteristic of bonds?
A) pay zero nominal interest
B) can be used for transactions
C) are sold for a price that varies inversely with the interest rate
D) all of the above
E) none of the above
C
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If a firm shuts down for a week, during that week its:
A. total variable cost exceeds total fixed cost. B. total cost is zero. C. total cost equals total variable cost. D. total cost equals total fixed cost.
On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic B. less elastic C. equally elastic D. There is insufficient information in the question.
To be counted as unemployed in the United States a person has to be
A. at least 16 and less than 65 and actively seeking employment. B. at least 16, out of work, and actively seeking employment. C. out of work and actively seeking employment. D. at least 21 and out of work.
Governments invest in infrastructure to:
A. to spur economic growth. B. to increase the growth rate of GDP per capita. C. to increase the productivity of businesses. D. All of these are reasons why the government provides infrastructure.