Empirical evidence suggests that usury laws
A) help poor consumers by lowering the interest rate they pay.
B) hurt poor consumers by limiting their ability to borrow.
C) keep interest rates low.
D) limit the amount borrowed by wealthier consumers.
B
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Answer the following statements true (T) or false (F)
1. The measure of elasticity will be the same at any place along a given straight-line, slanted demand curve. 2. If 1,000 units of a particular good would be purchased at 40 cents per unit but only 750 units would be purchased at 50 cents per unit, the demand for the good is inelastic. 3. Graphically, perfectly elastic demand is represented by a straight horizontal line. 4. It is possible for a change in the price of one commodity to lead to a change in the demand for another commodity. 5. Any time the market price moves away from its equilibrium position to a lower price, market action will tend to force it further away from its original equilibrium position.
A speculator becomes the fixed-rate payer in an interest rate swap. He expects that
A) long rates rise. B) long rates fall. C) short rates rise. D) short rates fall.
Suppose a Treasury bond will mature in 3 years. If the bond pays a coupon of $100 per year and will make a final par value payment of $3,000 at maturity, what is its price if the relevant market interest rate is 7%?
A) $2,448.89 B) $2,711.33 C) $3,247.57 D) $3,510.00
The graph below shows the production possibilities curve for an economy producing two goods, X and Y. All of the following may allow the economy to produce combination D in the future, except?
A. Lower unemployment
B. Increasing labor supply
C. Economic growth
D. Technological advances