A change in demand cannot be caused by a change in:
a. tastes.
b. population.
c. the prices of other goods.
d. expectations of future prices.
e. the price of the good itself.
e
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An increase in the liquidity of corporate bonds, other things being equal, shifts the demand curve for corporate bonds to the ________ and the demand curve for Treasury bonds shifts to the ________
A) right; right B) right; left C) left; left D) left; right
A monopolist always produces on the elastic portion of the demand curve
a. True b. False Indicate whether the statement is true or false
The concept of "scarcity" implies that: a. all output combinations below a nation's production possibilities frontier is unattainable
b. a nation should allocate its resources to the production of only one good. c. a nation is limited in its capacity to produce goods and services by its available resources and technology. d. all production combinations above a nation's production possibilities frontier are inefficient.
Exhibit 12-2 Unemployment categories Category# ofIndividuals Frictional unemployment 20 Structural unemployment 35 Cyclical unemployment 60 Discouraged workers 5 Underemployed workers 10 Fully employed workers410 Population900 Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately:
A. 10 percent. B. 12 percent. C. 17 percent. D. 20 percent.