Stocks and bonds are examples of:
a. natural resources.
b. financial capital.
c. physical capital.
d. financial labor.
e. internal capital.
b
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The price of one currency in terms of another is the
A) price of gold. B) price of a SDR. C) foreign exchange rate. D) price of foreign stock.
Which economist argued that high tax rates can produce less tax revenues?
a. Robert Ferber b. A. W. Phillips c. Alex Maxwell d. Frantisek Bass e. Arthur Laffer
At the beginning of year one, there is no government debt outstanding. The government runs a $100 billion deficit in year one. Interest at a nominal rate of 10% must be paid starting in year two. Assume nominal GDP in year one is $2000 billion and the nominal growth rate of GDP is 4%. Assume the government balances its primary budget in the future and the interest rate and growth rate do not change.(a)What will be the government deficit in years two, three, four, and five?(b)What will be the value of government bonds outstanding at the end of the fifth year?(c)What will be the debt-GDP ratio at the end of year five?
What will be an ideal response?
The Federal Reserve Act of 1913 required all ________ banks to become members of the Federal Reserve System, while ________ banks could choose to become members of the system
A) state; national B) state; municipal C) national; state D) national; municipal