Which of the following would be most likely to earn an AAA rating from Standard & Poor's?
A. A 10-year bond issued by Canada
B. A 10-year bond issued by a state or municipality
C. Shares of stock in Coca-Cola
D. A bond issue by a new vegetarian fast-food chain
Answer: A
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The $787-billion stimulus package enacted by the federal government in 2009 to try to deal with the Great Recession was intended to
A. push the aggregate expenditures schedule upward. B. close an inflationary expenditures-gap. C. shift the aggregate expenditures schedule down. D. bring inflation down.
In the above figure, by increasing its output from Q1 to Q2, the firm
A) reduces its marginal revenue. B) increases its marginal revenue. C) decreases its profit. D) increases its profit.
__________ bonds are municipal bonds that are backed by the general taxing power of the state or local government
A) General obligation B) Revenue C) Tax-anticipation D) Bond-anticipation
Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What happens to the industry in the long run?
a. It experiences no change from the original equilibrium b. It experiences a higher equilibrium price and produces less output c. It experiences a lower equilibrium price and produces less output d. It experiences the same equilibrium price but produces more output e. It experiences the same equilibrium price but produces less output