What Happens to the Demand for Piano Tuners and the Wage

question 9

Multiple Choice

What happens to the demand for piano tuners and the wage paid to piano tuners when the price of pianos increases?

• A)demand for tuners increases, and so does their wage
• B)demand for tuners increases, and their wages fall
• C)demand for tuners falls, and so does their wage
• D)demand for tuners falls while their wage rises

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Definitions:

Premium on Bonds Payable

The amount by which the selling price of a bond exceeds its principal (face value), often resulting from interest rates lower than the bond's coupon rate.

Par Value

The nominal value of a bond or stock as declared by the issuer.

Issuance of Bond

The process by which a bond issuer offers bonds to investors to raise capital, typically with terms outlining repayment and interest.

Par Value

Par value is the nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuing company.