Recently, Chrysler bonds with a face value of 100 closed at 103 . The coupon rate was 12.75 . The current yield on these bonds was
a. 103 percent.
b. 3 percent.
c. 12.75 percent.
d. less than 12.75 percent.
d
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The exchange rate system agreed to in 1944, in which the U.S. government agreed to buy or sell gold at a fixed price of $35 per ounce, is referred to as
A) the Bretton Woods System. B) the gold standard. C) a flexible exchange rate system. D) a floating currency standard.
The short-run supply of land at a specific location is: a. best described by an upward-sloping curve. b. best described by a downward-sloping curve. c. perfectly inelastic
d. perfectly elastic.
A demand curve is upward sloping because as the price decreases the quantity demanded decreases
Indicate whether the statement is true or false
Which of the following represent problems encountered by the Organization for Petroleum Exporting Countries (OPEC) oil cartel?
a. There has been considerable cheating by OPEC members on their quantity allocations. b. The United States has accused the OPEC for price fixing and has partially banned oil cartels. c. World demand for oil has declined by approximately 1/3 since the mid-1970's, making it extremely difficult for OPEC to maintain satisfactory prices and revenues for its members. d. The high production costs incurred by all the OPEC members prompts them to break the cartel and charge a high price in the international market.