On December 16, 2008, the FOMC announced it would lower its target for the federal funds rate to between ________ and ________?
a. 0 ; .50
b. 1; 1.85
c. 0; .25
d. 1; 2
c
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The median wage among physicians is over $166K a year, while the median salary for physician assistants is $86K a year
These salaries suggest that physicians have ________ human capital than physician assistants and hence the demand for labor for physicians is ________ than the demand for labor for physician assistants. A) more; less B) more; greater C) less; greater D) less; less
What is the rate of return on a bond with a coupon of $38 payable in one year that was purchased for $950 and sold one year later for $931?
A) 2% B) 4% C) 6% D) 19%
If the marginal propensity to consume (MPC) is 0.90, the value of the spending multiplier is 90
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes the price, output, and profit conditions of monopoly?
a. Price will equal marginal cost at the profit-maximizing level of output and profits will be positive in the long-run. b. Price will always equal average variable cost in the short-run and either profits or losses may result in the long run. c. All of the answers are correct. d. In the long-run, positive economic profit will be earned.