Answer the following statement(s) true (T) or false (F)
1. Footballs and football helmets are considered to be complements.
2. Other things held equal, rising income usually leads to a leftward shift of the demand curve.
3. The vital statistics of the potential consumer population include size, race, income, and age characteristics.
4. Higher prices for a good or service provide incentives for producers to make or sell less of it.
1. True
2. False
3. True
4. False
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You have a bond that pays $18 per year in coupon payments. Which of the following would result in a decrease in the price of your bond?
A) The likelihood that the firm issuing your bond will default on debt decreases. B) Coupon payments on newly-issued bonds rise to $22 per year. C) The price of a share of stock in the company rises. D) Coupon payments on newly-issued bonds fall to $15 per year.
The potential for asymmetric information to bring about a general decline in product quality in an industry is known as the ________ problem
A) moral hazard B) liability C) capture D) lemons
Refer to the table below. According to the table, Corey has the absolute advantage in: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. neither making nor delivering pizza. B. making and delivering pizza. C. delivering pizza. D. making pizza.
The equilibrium price and quantity of a good under perfect competition are determined:
A) by the intersection of the market demand and total revenue curves. B) by the intersection of the total revenue and total cost curves. C) by the intersection of the market demand and market supply curves. D) by the intersection of the market supply and total revenue curves.