Answer the following statements true (T) or false (F)
1. Macroeconomics and microeconomics are concerned with the well-being of only people with jobs and high incomes; they just examine it from a different perspective.
2. Economies that are primarily market-oriented have fewer regulations.
3. The economics approach can be a useful way to analyze and understand the tradeoffs of economic decisions.
4. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.
5. Economists use the term supply to refer to the amount of some good or service a customer is willing to supply at each price.
1. False
This statement is false. Macroeconomics and microeconomics are concerned with the well-being of all people, regardless of employment status and/or income level, they just examine it from a different perspective.
2. True
This statement is true. Economies that are primarily market-oriented have fewer regulations.
3. True
This statement is true. The economics approach can be a useful way to analyze and understand the tradeoffs of economic decisions.
4. True
This statement is true. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.
5. False
This statement is false. Economists use the term supply to refer to the amount of some good or service a producer is willing to supply at each price.
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Comparing a discount bond and a coupon bond with the same maturity
A) the coupon bond has the greater effective maturity. B) the discount bond has the greater effective maturity. C) the effective maturity cannot be calculated for a coupon bond. D) the effective maturity cannot be calculated for a discount bond.
The present value of $1 payable in two years is
a. $1. b. $1/(1 + 2r). c. $1/(1 ? 2r). d. $1/(1 + r)2.
The interest rate promised when a bond is issued is called the:
A. coupon rate. B. real rate of interest. C. discount rate. D. dividend rate.
Full employment in the United States
A. means that the cyclical unemployment rate is about 2%. B. means 0% unemployment for 6 months. C. means the economy has no cyclical unemployment. D. means a 100% employment rate.