A perfectly inelastic demand would imply what kind of demand curve?
A) horizontal
B) vertical
C) upward sloping
D) downward sloping
B
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Which of the following equations represents the equation of exchange?
A) PM = VY B) MY = PV C) MV = PY D) M = VP/Y
Which of the following statements is TRUE?
A) State and local governments cannot default on their bonds. B) Bonds issued by state and local governments are called municipal bonds. C) All government issued bonds—local, state, and federal—are federal income tax exempt. D) The coupon payment on municipal bonds is usually higher than the coupon payment on Treasury bonds.
The process by which unions and firms agree on the terms of employment is called collective bargaining
a. True b. False Indicate whether the statement is true or false
The growth rate of total output equals
A. The growth rate of the labor force plus the growth rate of productivity. B. Gross investment minus depreciation. C. Real GDP per worker. D. Real GDP per capita growth rate.