The Golden Age of fiscal policy was during _____
a. the 1920s
b. World War II
c. the Eisenhower years
d. the 1960s
e. the Reagan administration years
d
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Everything else held constant, the interest rate on municipal bonds rises relative to the interest rate on Treasury securities when
A) income tax rates are lowered. B) income tax rates are raised. C) municipal bonds become more widely traded. D) corporate bonds become riskier.
Sam, after taking a $200 loan from the bank to finance an investment that pays $1000 50% of the time and $0 50% of the time at a 100% interest, discovers another riskier investment that pays out $5,000 but only 10% of the time, while the other 90% of the time it pays zero. Would the he want to switch to the riskier investment?
a. Yes because his return has increased b. No because his liability to the bank has increased c. No because his return has decreased d. None of the above
Explain how the marginal revenue product of labor is affected by the competitiveness of the market for goods that labor produces
Which of the following is a characteristic of economic rent?
A. It can never be negative. B. It equals economic profit minus accounting profit. C. It is driven towards zero by free entry. D. It can be positive, zero, or negative.