The higher the default risk on a bond, the higher the interest rate will be
Indicate whether the statement is true or false
TRUE
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Labor productivity equals ________
A) real GDP ÷ aggregate hours B) real GDP × aggregate hours C) aggregate hours ÷ real GDP D) aggregate hours × labor productivity E) aggregate hours ÷ labor productivity
In economics, choices must be made because we live in a world of
A) unemployment. B) greed. C) scarcity. D) unlimited resources.
If the dollar price of the yen is 1.39, the reciprocal exchange rate is 1 yen = $0.39
a. True b. False Indicate whether the statement is true or false
For most people, the problems of inflation are caused by the fact that
A. the inflation rate causes the purchasing power of money to increase. B. all prices change so there is no way to protect themselves against the decline in their wealth. C. the inflation is anticipated. D. the inflation is unanticipated.