Interest rates declined in 2007. What happened to bond prices during this time?
A. They were unchanged.
B. They increased.
C. They decreased.
D. Not enough data to answer.
Answer: B
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A consumer holds money to meet spending needs. This would be an example of the
A. use of money as legal tender. B. transactions demand for money. C. asset demand for money. D. use of money as a measure of value.
Suppose the government decides that a particular commodity is a luxury and decides to fix its price above the market-determined price. What implications could this policy have?
What will be an ideal response?
The over-the-counter (OTC) market is an example of a(n)
A) dealer market. B) brokered market. C) auction market. D) equilibrium market.
If a firm in a monopolistically competitive market has a demand curve that is shifting to the right, it will only stop shifting when:
A. the firm is earning zero economic profits. B. the firm's price is equal to its average total costs. C. other firms have no incentive to leave the market. D. All of these statements are true.