Although the necessary role of government in the economy is highly debated, many people agree that it should
A. Protect the environment.
B. Protect consumers and labor.
C. Provide a legal framework.
D. All of the choices are correct.
Answer: D
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An increase in the interest rate
A) lowers the present value of future revenue. B) increases the present value of future revenue. C) has no effect on the present value of future revenue. D) shifts the demand curve for capital leftward.
According to the liquidity premium theory, a yield curve that is flat means that
A) bond purchasers expect interest rates to rise in the future. B) bond purchasers expect interest rates to stay the same. C) bond purchasers expect interest rates to fall in the future. D) the yield curve has nothing to do with expectations of bond purchasers.
The existence of a "bought deal" in public offerings of bonds came about as a result of
A) shelf registration. B) a narrow underwriting spread. C) the need of investment banks to form syndicates before underwriting an issue. D) the need by underwriters to avoid as much risk as possible.
The AFL and CIO merged because it was thought that
A) organized labor would grow faster as a result. B) union pension funds would shrink as a result. C) strikes could be averted. D) managers would be more sympathetic to unions.