The bond demand curve is ________ sloping, indicating a(n) ________ relationship between the price and quantity demanded of bonds, everything else equal
A) downward; inverse
B) downward; direct
C) upward; inverse
D) upward; direct
A
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Cupcakes and granola bars are substitutes in consumption. The price of a granola bar increases so the demand for
A) granola bars will increase, that is, the demand curve will shift rightward. B) cupcakes will increase, that is, the demand curve will shift rightward. C) granola bars will decrease, that is, the demand curve will shift leftward. D) cupcakes will decrease, that is, the demand curve will shift leftward.
When government revenues exceed spending, that is called a
A. balanced budget. B. budget surplus. C. negative surplus. D. budget deficit.
If price elasticity of demand is -0.5,
a. a 1% decrease in quantity demanded leads to a 0.5% decrease in price b. a 1% decrease in price leads to a 0.5% increase in quantity demanded c. a 50% decrease in price leads to a 1% increase in quantity demanded d. a 50% decrease in price leads to a 100% increase in quantity demanded e. demand is elastic
Which of the following statements about fiat money is correct?
a) Fiat money has intrinsic value. b) Fiat money is not accepted as money. c) Fiat money is legal tender by government decree. d) Fiat money can only be electronic.