If Mousey Mike threatens to tell, what would Bratty Brad's best response be?
a. Hit
b. Not hit
c. Run
d. Hide
b
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If 20% increase in the price of a good leads to a 60% decrease in the quantity demanded, then what is the price elasticity of demand?
A. 1/3. B. 30. C. 3. D. 1/6.
What is an inferior good?
A) a product of low quality that we do not want to purchase B) a product for which demand increases when income increases, and demand decreases when income decreases C) a product for which demand increases when income decreases, and demand decreases when income increases D) a product that is complementary E) a product that is a substitute for another, better good
The yield on a bond is the
A. annual coupon payment divided by the price paid for the bond. B. coupon rate divided by the price paid for the bond. C. annual coupon payment divided by the face value of the bond. D. same as the interest rate on the bond. E. a and d
Classical economist David Hume observed that as the money supply expanded after gold discoveries it took some time for prices to rise and in the meantime the economy enjoyed higher employment and production. This is inconsistent with monetary neutrality because
a. monetary neutrality would mean that neither prices nor production should have risen. b. monetary neutrality would mean that production should have risen, but prices should not have. c. monetary neutrality would mean the prices should have risen, but production should not have changed. d. monetary neutrality would mean that prices and production should both have fallen.