Which of the following would not describe two thirds of the for-profit businesses in the United States as measured by sheer number of firms?
a. small retail businesses
b. small service operations
c. part-time home-based businesses
d. small farms
e. multinational corporation
E
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If there is an excess demand for money, individuals ________ bonds, causing interest rates to ________
A) sell; rise B) sell; fall C) buy; rise D) buy; fall
The PDV of a perpetuity with a yearly payment of $500 at an interest rate of 5% is
A) $100. B) $5,000. C) $25,000. D) $10,000. E) $100,000.
In a democratic setting, debt financing is attractive to elected political officials because
a. it makes it possible for them to spend on current projects favored by their constituents without having to levy current taxes. b. it drives up interest rates, which encourages saving. c. it leads to higher taxes in the future, which will tend to slow economic growth. d. it makes the cost of government more visible, which will help voters allocate government spending more efficiently.
Recipients of Medicare tend to demand a greater quantity of low-value, high-cost services because
A) the services are readily available. B) recipients are coerced into demanding such services. C) the government mandates that they demand such services. D) the services are heavily subsidized.