A 91-day $10,000 Treasury bill is selling for $9,000. The bill's yield on a discount basis is __________ percent
A) 3.36
B) 3.96
C) 7.91
D) 10.0
B
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Consumers in a country buy only two goods, sneakers and manicures. The prices and quantities purchased by urban households are in the table above. The reference base year is 2011. For these data, the CPI for 2012 is
A) 145. B) 110. C) 100. D) 10. E) 160.
In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then:
a. inventory is unchanged. b. inventory is depleted. c. employment increases. d. GDP decreases.
If income were equally distributed, a nation's Lorenz curve would be identical to the _______________.
Fill in the blank(s) with the appropriate word(s).
Economic theory suggests that if natural resources can be held as private property, then
A. conservation will be nonexistent. B. people will simply hold them and refuse to make them available. C. owners will have an incentive not to abuse them. D. natural resources will be sold off for immediate use.