When combined, in present value terms, the underfunded nature of Social Security, Medicare, and State and local pensions adds to
A. $17 trillion.
B. $170 trillion.
C. $17 million
D. $17 billion.
Answer: A
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Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV, QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. How many households would demand cable TV if it were free?
A. No households B. 15,000 households C. 67,000 households D. Every household would demand cable TV if it were free.
Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent:
Refer to the data above. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of:
A. $15,000
B. $20,000
C. $25,000
D. $30,000
The coupon rate on newly issued bonds is usually higher for bonds with ________ terms and ________ risk that the borrower will go bankrupt.
A. shorter; greater B. shorter; smaller C. longer; smaller D. longer; greater
Classical economists believed that if saving were greater than investment, the interest rate would _____, causing saving to _____ and investment to _____ until the two were equal
a. rise; decrease; increase b. fall; decrease; increase c. fall; increase; decrease d. rise; increase; decrease e. fall; increase; increase