The interest payment on a bond is called
A) the coupon payment.
B) principal.
C) the interest rate.
D) the face value.
Answer: A
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Suppose that the price of labor, the only variable input needed to produce cotton, increases from $100 day to $120 day. The effect on costs will be
a. a parallel shift in the total cost curve. b. a parallel shift in the fixed cost curve. c. a parallel shift in the marginal cost curve. d. a shift in total cost by different amounts for different quantities.
When sellers have more information about products than buyers do, we would expect
A) sellers to get higher prices for their goods than they could otherwise. B) buyers to pay lower prices for goods than they would otherwise. C) high-quality goods to drive low-quality goods out of the market. D) low-quality goods to drive high-quality goods out of the market.
According to the book, Akio Morita (the founder of Sony) drew a long-run average cost curve that was
A) U-shaped. B) V-shaped. C) W-shaped. D) horizontal
Other things equal, a reduction in personal income taxes will decrease consumption and will have an expansionary effect on real GDP
a. True b. False Indicate whether the statement is true or false