An increase in the nation's wealth, all other factors constant, would cause the:
A. bond supply curve to shift left.
B. bond demand curve to shift right.
C. bond supply curve to shift right.
D. bond demand curve to shift left.
Answer: B
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The wage rate is the price of a unit of labor. What happens to the demand for labor if the wage rate increases?
A. It increases. B. It decreases. C. It does not change. D. Uncertain-economic theory has no answer to this question.
If a firm is a price taker, its marginal revenue is:
a. equal to market price. b. less than market price. c. greater than market price. d. a multiple of market price that may be either greater than or less than one.
The IRS receives approximately
a. 80 percent of the taxes owed b. 50 percent of the taxes owed c. 40 percent of the taxes owed d. 20 percent of the taxes owed e. 10 percent of the taxes owed
As the dollar appreciates, which of the following is most likely to occur?
a. More Americans will travel abroad. b. American imports will fall. c. More foreigners will visit the United States. d. American firms will reduce their investments abroad.