A one-year Treasury bill that sells for $943.40 and has a face value of $1,000 has an annual yield of
A) 8 percent.
B) 7 percent.
C) 6 percent.
D) 5 percent.
C
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Under the Soviet system of communism,
A) technological progress was slow because managers had little incentive to develop new technologies. B) managerial pay was determined by the extent to which managers could lower the per-unit costs of production. C) the per-worker production function in the Soviet Union shifted up more rapidly than production functions in other countries. D) competitive pressures in the Soviet Union allowed the country's technological progress to keep pace with the rest of the world.
If the absolute price elasticity of demand for automobiles is equal to 0.75, we say
A) that demand is inelastic. B) that demand is elastic. C) that there is a strong responsiveness of quantity demanded to automobiles price cuts. D) none of the above is correct.
Consider the salary of Mary Sue Nelson, a sales agent for Plain Truth Advertising. Her weekly compensation package is W = 1,000 + 0.4Q, where Q is her dollar volume of sales. Her productivity is Q = 200e + µ, where e denotes her hours of effort and µ, is a random variable with mean 0. If Mary Sue works an additional hour, the expected value of her wages rises by:
A. $80.00. B. $200.00. C. $0.00. D. $1,000.00.
Net exports equal:
A. exports minus imports. B. exports minus depreciation. C. exports plus imports. D. the value added of exports.