________ can provide incentives to honor implicit contracts.
A. Value maximization
B. Adverse selection
C. Bargaining power
D. Reputational concerns
Answer: D
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When a tax is placed on sellers, the actual incidence:
A. falls solely on the seller. B. falls solely on the buyer. C. may be shared between the seller and buyer. D. is higher because it is being placed on the seller.
The gold standard fixes the:
a. future price of gold in terms of silver. b. price of gold in terms of international currencies. c. future price of silver in terms of gold. d. money supply in terms of paper currency. e. past exchange rate and the future exchange rate.
Which of the following did not result in economic growth?
a. Installing a network of irrigation ditches and pumping stations in order to grow fruits and vegetables in parts of southern California b. Cyrus McCormack inventing a threshing machine for harvesting grains c. After World War II, the U.S. instituting the GI bill, which provided education subsidies to soldiers being released from service duty d. Many citizens emigrating from a nation when a politically repressive regime takes office
The yield curve is the relationship between the:
a. Domestic yield and foreign yield. b. Real yield (i.e., interest rate) and actual inflation. c. Nominal yield and time to maturity of a security. d. Nominal yield on corporate securities and the yield of government securities. e. Nominal yield and real yield of a security.