You have a portfolio valued at $10,000. Over the next twelve months it loses 50% of its value. What return does the portfolio need to earn over the following twelve months to be restored to its original value?
A. 100%
B. 50%
C. 25%
D. 200%
Answer: A
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When the price level increases people:
A. demand a smaller quantity of goods and services in the aggregate. B. feel more wealthy. C. have the same real value of assets, regardless of the change in the price level. D. want to spend more, but can’t due to the prices of all goods and services going up.
Which of the following goods will have the most elastic demand at any time?
A. Cigarettes B. Electricity C. Gasoline D. Water E. Jewelry
An excise tax is
A. levied on accounting profits not economic profits. B. levied on salaries and wages but not investment income. C. levied on the purchase of specific goods. D. levied on purchases of goods in general excluding exempted goods that are considered necessities.
Given the strict quantity theory of money, if the quantity of money doubled, prices would:
A. fall by half. B. double. C. remain constant. D. increase somewhat but less than double.