Bond ratings
A) are published annually by the federal government and are based largely on information contained in corporate tax returns.
B) are published annually by the federal government and are based on publicly available information.
C) are published monthly by the federal government and are based on publicly available information.
D) are published by private bond-rating agencies.
D
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Elastic demand implies
A) that a one percent increase in price results in a smaller than one percent decrease in quantity demanded. B) that a one percent increase in price results in a larger than one percent decrease in quantity demanded. C) that a one percent cut in price results in a larger than one percent increase in quantity demanded. D) that a one percent decrease or increase in price induces no change in total revenue.
Voluntary exchange
A) is the only way to eliminate scarcity. B) is a nonprice rationing device. C) is trading so that the consumer and producers are better off. D) involves no transactions costs.