Government ownership of property and resources in the United States is
A. about as common as it is in European countries.
B. widespread; the United States is a leader in the amount of government ownership of resources.
C. relatively rare; the United States is mostly privatized.
D. rare but has been increasing rapidly as the United States catches up to other countries.
Answer: C
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Suppose that individuals with state-independent and risk-averse tastes insure each other through state-contingent trades. The competitive equilibrium price will then result in actuarily fair insurance terms.
Answer the following statement true (T) or false (F)
Equilibrium in the loanable funds market is initially present at a stable price level (zero inflation) and a nominal (and real) interest rate of 4 percent. If a shift to expansionary monetary policy eventually leads to actual and expected inflation of 6 percent,
a. both the nominal and real interest rates will rise to 10 percent. b. the nominal interest rate will rise to 10 percent, but the real interest rate will remain at 4 percent. c. the real interest rate will rise to 10 percent, but the nominal interest rate will remain at 4 percent. d. both the real and nominal interest rates will remain at 4 percent.
A bond is essentially:
A. an equity. B. a loan. C. a stock. D. a derivative.
If the rate of interest did not equate saving and investment and total output was greater than total spending, the classical economist argued, competition would tend to force
A. product and resource prices down. B. product prices up and resource prices down. C. product prices up and resource prices up. D. product prices down and resource prices up.