Which of the following statements is true?
A) A buyer who sets a price so that he can purchase any amount of a good he wants at a fixed price, if he has the money to pay for it, is called a price leader.
B) All buyers in a perfectly competitive market set prices to compete in their market.
C) The relative prices of goods do not affect a consumer's buying decision.
D) A consumer in a perfectly competitive market buys only a tiny fraction of the total amount produced.
D
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The size of the labor force is
A) equal to the size of the population. B) equal to the working-age population. C) less than the number of employed workers if the number of unemployed workers is small enough. D) less than the number of unemployed workers if the number of employed workers is small enough. E) greater than the number of employed workers as long as there are some unemployed workers.
What is the price of a coupon bond that has annual coupon payments of $85, a par value of $1000, a yield to maturity of 10%, and a maturity of three years?
A) $211.38 B) $898.84 C) $962.70 D) $1255.0
An extra dollar into the Social Security trust fund _____
a. increases the assets of the federal government by a dollar b. decreases the assets of the federal government by a dollar c. has no impact on the assets of the federal government d. speeds up the time until insolvency of the trust fund
Many government programs, such as unemployment compensation, operate on a deficit during recessions and a surplus during periods of economic expansion. The programs are referred to as
A) discretionary fiscal policy. B) automatic stabilizers. C) Ricardian equivalence. D) Recognition time lag.