A higher bond price indicates a lower cost of new external funds
Indicate whether the statement is true or false
TRUE
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The existence of union wages, efficiency wages, and the minimum wage
A) raises the real wage rate above the equilibrium wage rate and raises the natural unemployment rate. B) lowers the real wage rate below the equilibrium wage rate and creates a shortage of labor. C) raises the real wage rate above the equilibrium wage rate and creates a shortage of labor. D) raises the real wage rate above the equilibrium wage rate and lowers the natural unemployment rate. E) does not have an impact on the equilibrium wage rate or on the amount of unemployment.
Price elasticity of demand is defined as: a. the slope of the demand curve
b. the slope of the demand curve divided by the price. c. the percentage change in price divided by the percentage change in quantity demanded. d. the percentage change in quantity demanded divided by the percentage change in price.