Recently, Argo Chemical’s 8.5 percent bonds maturing in 2019 closed at $92 with a face value of $100. This means the Argo bonds
A. sold for $92 each.
B. increased in value $92 that day.
C. sold at 92 percent of par value.
D. had the year of maturity changed to 1992.
Answer: C
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Suppose the elasticity of labor demand is 1.4. Then a decrease in the wage rate will:
A. Decrease total wage income B. Increase total wage income C. Have no impact on total wage income D. Have an indeterminate impact on total wage income
Gunnar can work as a campus security officer at a guaranteed salary of $20,000 per year or as a real estate agent
If Gunnar works as a real estate agent, there is a 50 percent chance that he will earn $10,000 per year and a 50 percent chance that he will earn $30,000 per year. Based on the table above, Gunnar's expected utility if he works as a real estate agent is A) 170. B) 85. C) 20. D) 90.
Unanticipated moral hazard contingencies can be reduced by
A) screening. B) long-term customer relationships. C) specialization in lending. D) credit rationing.
A simultaneous increase in demand and supply leads to an increase in price
Indicate whether the statement is true or false