As recessions begin, employment
a) rises and income falls.
b) falls and income rises.
c) and income both fall.
d) and income both rise.
Ans: c) and income both fall.
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Indicate whether the statement is true or false
A monopolistic competitor would face a demand curve with a
A) positive slope. B) negative slope. C) constant slope. D) slope equal to 0.
What is the value of a newly issued 10-year bond with face value of $10,000 and no coupon payments? Assume the interest rate is 7 percent (0.07) per year
a. $0 b. $5,083.49 c. $10,000 d. $95,632.41 e. $100,000.00
What would happen to the budget line if income as well as prices of both goods increase by the same percentage?
a. A rightward parallel shift in the budget line. b. A leftward parallel shift in the budget line. c. A rightward shift in the budget line. d. No shift in the budget line.