Full employment is defined by the Council of Economic Advisers as
A) 4 percent.
B) every adult who wants to work has a job.
C) the unemployment rate associated with zero inflation.
D) the unemployment rate associated with the normal frictions in the labor market.
D
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Sydney purchases a newly issued, two-year government bond with a principal amount of $10,000 and a coupon rate of 6% paid annually. One year before the bonds matures (and after receiving the coupon payment for the first year), Sydney sells the bond in the bond market. What price (rounded to the nearest dollar) will Sydney receive for his bond if newly issued one-year government bonds are paying a 5% coupon rate?
A. $10,600 B. $10,000 C. $9,906 D. $10,095
Under the Bretton Woods system, a country with a balance of payments deficit
a. could get loans from the U.S. government. b. could devalue if deflationary policies failed to eliminate the deficit. c. was not allowed to devalue under any circumstance. d. was required to devalue its currency immediately.
An approach that can be taken by someone directly involved in a transaction to solve the problems caused by information asymmetry is:
A. statistical discrimination. B. proofing. C. mandating that information be shared. D. All of these are ways to solve information asymmetry.
In an oligopoly, producers' agreements to restrict output tend to be unstable because each firm has an incentive to:
A. Produce more than its output quota B. Lower both its price and its output C. Raise its price above the cooperative price D. Establish competitive price and output levels