What is the difference between the competitive level of employment and the union optimum level of employment in Figure 31.1?
A. Zero.
B. 3 workers.
C. 6 workers.
D. 22 workers.
Answer: C
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Elimination of riskless profit opportunities in the futures market is
A) hedging. B) arbitrage. C) speculation. D) underwriting.
The implication of the expectations theory that expected returns for a holding period must be the same for bonds of different maturities depends on the assumption that
A) yield curves usually slope upward. B) yield curves usually slope downward. C) instruments with different maturities are perfect substitutes. D) savers are usually risk averse.
If the annual interest rate is 9%, what would you expect to pay for a bond paying a lump sum of $10,000 in two years?
A) $8,417 B) $8,200 C) $10,000 D) $11,881
"Stocks and bonds" are collectively known as
A) securities. B) equities. C) real property. D) shares.