Default Refers to the

question 65

Multiple Choice

Default refers to the

• A) Rate of interest to be paid on a bond.
• B) Amount to be repaid when the bond is due.
• C) Failure to make interest or principal payments on a bond.
• D) Failure of stock to increase in value.

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Definitions:

Least Elastic

Refers to the degree of responsiveness or sensitivity of demand or supply to changes in prices, with the least elastic being the least responsive.

Straight-Line Demand

Straight-Line Demand refers to a demand curve that shows a constant rate of change in the quantity demanded as price changes.

Percentage of Income

A measure indicating what portion or ratio of one's income is allocated to a specific expenditure or category.

Unit Elastic

Describes a situation in which the percentage change in quantity demanded is equal to the percentage change in price, leading to no change in total revenue.