A corporate IOU is called a
a. corporate bond
b. corporate stock
c. common stock
d. preferred stock
e. convertible stock
A
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The graph shows the labor market for fast-food workers in Sioux City. If the government sets a minimum wage of $7 an hour, then the labor market is ________, and marginal benefit ________ marginal cost
A) inefficient; is less than B) inefficient; equals C) efficient; equals D) inefficient; is greater than E) inefficient; cannot be compared to
Bobby is offered a job as a salesperson in which there is a 50 percent chance that he will make $2,000 and a 50 percent chance that he will make $10,000. Bobby's utility of wealth curve is shown in the figure above. What is Bobby's cost of risk?
A) $1,000 B) $2,000 C) $3,000 D) $4,000
The equation of exchange states that:
a. money supply multiplied by real output equals velocity. b. velocity multiplied by money supply equals the selling price times the quantity of actual output. c. money supply divided by velocity equals nominal GDP. d. money supply divided by velocity equals real GDP.
Suppose the interest rate is 6% and compounded annually. What is the present discounted value of 6 future annual payments of $150?
A. $634.46 B. $737.60 C. $849.06 D. $900.00