The beginnings of the New York Stock Exchange can be traced back to a small group of men who bought and sold stock in New York in
A) 1792.
B) 1866.
C) 1892.
D) 1929.
A
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Chris pays $10,000 for a newly issued two-year government bond with a $10,000 face value and a 6 percent coupon rate. One year later, after receiving the first coupon payment, Chris sells the bond. If the current one-year interest rate on government bonds is 7 percent, then the price Chris receives is:
A. less than $10,000. B. greater than $10,000. C. $700. D. $10,000.
In general, as individuals undertake additional years of schooling,
A) their stock of human capital increases.
B) the marginal productivity of individuals as workers declines.
C) the marginal benefit to society of the extra years of education increases.
D) the marginal productivity of individuals as workers becomes negative.
In _____ the OPEC national quadrupled the price of oil.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements about economic models is TRUE?
A. The best economic models must be most complex. B. Economic models are designed to explain what people need. C. Every model is based on a set of assumptions. D. A good model does not rely on any assumptions.