The Navigation Acts:
a. placed tariffs on the import of British goods by the colonies.
b. prohibited trade between the British West Indies and the colonies.
c. allowed colonial trade on British ships commanded by foreign captains.
d. encouraged trade between the colonies and the Dutch.
e. None of the above is correct.
c. allowed colonial trade on British ships commanded by foreign captains.
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Within the AD/AS model, if consumers increase their savings and cut back on their spending, the
a. natural rate of unemployment will increase. b. real interest rate will decrease and, thereby, cushion the reduction in consumption spending. c. real interest rate will increase because of the higher rate of saving. d. long-run aggregate supply will decrease to restore equilibrium.
Given a nominal interest rate of 5 percent, in which of the following cases would you earn the highest after-tax real rate of interest?
a. Inflation is 3 percent; the tax rate is 15 percent. b. Inflation is 2 percent; the tax rate is 40 percent. c. Inflation is 1 percent; the tax rate is 50 percent. d. The after-tax real interest rate is the same for all of the above.
Which of the following could the lemons problem, applied to financial markets, explain?
A. An average interest rate that is too high for the actual risk obtained B. High quality potential borrowers relying more on internally generated funds to finance investment C. Lenders seeing a disproportionate share of high quality loan applicants D. Profits for many lenders increasing significantly
Someone who is an excellent salesperson will normally be less inclined to work for commissions than for a fixed salary.
Answer the following statement true (T) or false (F)