Insurance policies can be bought to cover unexpected costs due to which kind of risk?
A. Fire damage to your home
B. Automobile theft
C. Fighting a rare disease
D. Individuals can buy insurance to cover all these risks.
D. Individuals can buy insurance to cover all these risks.
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The market price of existing bonds is ________ to the rate of interest prevailing in the economy
A) directly related B) inversely related C) synonymous D) totally unrelated
The short-run Phillips curve will not shift unless there is
A) an increase in inflation that is unanticipated. B) a decrease in inflation that is unanticipated. C) a change in inflation expectations. D) an increase in the unemployment rate.
Legislated federal government payments that anyone who qualifies can receive are called
A) controllable expenditures. B) a fiscal stabilizer. C) balanced expenditures. D) entitlements.
Answer the following statement(s) true (T) or false (F)
1. Step 2 of the three-step method for monopolistic competition involves finding total cost. 2. If total revenue is greater than total costs at q*, the firm is generating total economic profits. 3. When there are economic losses, firms often enter the market. 4. If many firms producing similar products enter the market, the demand curve for existing firms producing this type of product will become less elastic. 5. If many sellers producing similar products leave the market, the demand curve for existing firms producing this type of product will shift to the right.