During the Great Depression, the unemployment rate for the United States peaked at approximately
A. 45%.
B. 10%.
C. 25%.
D. 70%.
Answer: C
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Institutional reversal refers to the fact that:
A) the same institutions that were highly inclusive in the year 1500 slowly changed into extractive institutions as a result of modernization. B) Europeans established more extractive institutions in places that were previously more developed, and set up more inclusive institutions that were previously less developed. C) Europeans established more extractive institutions in places that were previously less developed, and set up more inclusive institutions that were previously more developed. D) the same institutions that were highly extractive in the year 1500 slowly changed into inclusive institutions as a result of modernization.
Regardless of whether a negative externality is emitted by consumers or by producers, a Pigouvian tax can be imposed on consumers only.
Answer the following statement true (T) or false (F)
You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. The CPI over that year rises from 180 to 200. What is the real interest rate you are paying?
A) 15% B) 5% C) -1.1% D) -6.1%
Which of the following statements is true?
A. A person who buys a bond always pays the face value for the bond. B. If a corporation issues a bond and Dennis buys it, Dennis becomes one of the owners of the corporation. C. A stockholder of Firm X is one of the owners of Firm X. D. The owner of the bond receives periodic payments equal to its coupon rate times the price he paid for the bond.