If you bought a long contract on financial futures you hope that interest rates
A) rise.
B) fall.
C) are stable.
D) fluctuate.
B
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The payroll tax is a tax imposed on ________ that is used to fund Social Security and Medicare
A) workers only B) employers only C) employers and workers D) the unemployed
Some years ago New York City imposed rent controls in an effort to provide housing at "fair" prices for as many people as possible. The result was a serious shortage of housing and deterioration of existing rental properties. How would an economist have described the result in terms of economic efficiency?
Table 21-1 ? Share of Income Group National Income Lowest fifth 6 Second fifth 9 Third fifth 17 Fourth fifth 19 Highest fifth 49 ? Consider the economy described by the income distribution in Table 21-1. From this table, we can conclude that the
A. poorest quarter of the population earns 15 percent of the income. B. “middle” fifth of the population earns 32 percent of the income. C. poorest quarter of the population earns 19 percent of the income. D. richest fifth of the population earns 49 percent of the income.
Tuition and fees for four year colleges in the United States have risen over five percent per year recently. One cause for the increase in price has been an increase in demand for college education. In the standard model, what could be a possible explanation for the increase in the demand for college education?
A. Income in the United States has risen B. The cost of two-year colleges has declined over the same period C. More colleges have been established D. The price of all other goods in the economy has risen 3 percent over the same period