11) If the annual interest rate is 3%, $10 000 received today has the same present value as ________ received one year from now. A) $10 000 B) $13 000 C) $300 D) $9707.74 E) $10 300 12) Consider a bond with a face value of $10 000, a three-year term and a coupon payment of 6% made at the end of each year. […]

    73.What is the most important federal law regarding the issue of new securities? a.Securities Act of 1923 b.Securities Act of 1933 c.Securities Act of 1943 d.Securities Act of 1953       74.Which of the following is NOT a benefit of going public for a private firm? a.New capital for the company. b.Publicly traded stock for acquisitions c.Personal wealth and liquidity d.Low managerial […]

    11) Which of the following is an implicit cost of production? A) the loss in the value of capital equipment due to wear and tear B) the salary you pay yourself for running your business C) the utility bill paid to water, electricity, and natural gas companies D) the interest you pay your mother for the money she loaned you to start your […]

  31.Supposethatneitherfood-serviceworkersnorretailsalespeopleareunionized.Iffood-serviceworkersunionize,thenthesupplyofretailsalespeoplewill a.rise,aswillthewagesofretailsalespeople. b.rise,andthewagesofretailsalespeoplewillfall. c.fall,aswillthewagesofretailsalespeople. d.fall,andthewagesofretailsalespeoplewillrise. 32.Supposethatbartendersandwaitershavenounions.Nowsupposethatbartendersformaunion.Whatdoesthisdothelaborsupplyandwagesofwaiters? a.Bothlaborsupplyandwagesincrease. b.Laborsupplyincreases,andwagesdecrease. c.Laborsupplydecreases,andwagesincrease. d.Bothlaborsupplyandwagesdecrease. 33.Supposethatgarbagecollectorsandlandscapingworkershavenounions.Nowsupposethatgarbagecollectorsformunions.Whatdoesthisdothelaborsupplyandwagesoflandscapingworkers? a.Bothlaborsupplyandwagesincrease. b.Laborsupplyincreases,andwagesdecrease. c.Laborsupplydecreases,andwagesincrease. d.Bothlaborsupplyandwagesincrease. 34.Considertwolabormarketsinwhichjobsareequallyattractiveinallrespectsotherthanthewagerate.Allworkersareequallyabletodoeitherjob.Initially,bothlabormarketsareperfectlycompetitive.Ifaunionorganizesworkersinoneofthemarkets,thenthewagerateswilltendto a.riseinbothmarkets. b.fallinbothmarkets c.risefortheunionjobs,butremainunchangedforthenonunionjobs. d.risefortheunionjobsandfallforthenonunionjobs. 35.Supposethatmedicaltechniciansandnurses’aidesarenotunionized.Ifthenurses’aidesunionize,thenthewagesof a.bothmedicaltechniciansandnurses’aideswillrise. b.bothmedicaltechniciansandnurses’aideswillfall. c.medicaltechnicianswillrise,andthewagesofnurses’aideswillfall. d.nurses’aideswillrise,andthewagesofmedicaltechnicianswillfall. 36.Supposethatfloristsandlandscapeworkersarenotunionized.Iffloristsunionize,thenthewagesof a.floristswillrise,andthewagesoflandscapeworkerswillfall. b.floristswillfall,andthewagesoflandscapeworkerswillrise. c.bothfloristsandlandscapeworkerswillrise. d.bothfloristsandlandscapeworkerswillfall. 37.Supposethatcollegeprofessorsatpublicuniversitiesareunionized.Ifpublicuniversitycollegeprofessorschangetheirmindsandvotenottobeunionized,thequantityofpublicuniversitycollegeprofessorsdemandedwill a.rise.Thesupplyofworkersinothersimilarprofessionswillalsorise. b.rise.Thesupplyofworkersinothersimilarprofessionswillfall. c.fall.Thesupplyofworkersinothersimilarprofessionswillrise. d.fall.Thesupplyofworkersinothersimilarprofessionswillalsofall. 38.Supposethatdentalhygienistsareunionizedintheeasternregionofthecountrybutnotinthewesternregion.Iftheunionizedworkersintheeasternregionabolishedtheirunions,employment a.andwagesofdentalhygienistsintheeasternregionwouldrise. b.ofdentalhygienistsintheeasternregionwouldrise,butwagesofdentalhygienistsintheeasternregionwouldfall. c.andwagesofdentalhygienistsintheeasternregionwouldfall. d.ofdentalhygienistsintheeasternregionwouldfall,butwagesofdentalhygienistsintheeasternregionwouldrise. 39.Whichofthefollowingisnotcorrect? a.UnionsareexemptfromU.S.antitrustlaws. b.TheWagnerActof1935preventsU.S.employersfrominterferingwhenworkerstrytoorganizeunions. c.TheNationalLaborRelationsBoardistheU.S.governmentagencythatenforcesworkers’righttounionize. d.Right-to-worklawspreventfirmsfromhiringpermanentreplacementsforworkerswhoareonstrike. 40.TheWagnerActof1935 a.preventsunionsfromactingascartels. b.allowsworkersjoiningaunionizedfirmtochoosenottojointheunion. c.preventsemployersfrominterferingwhenworkerstrytoorganizeaunion. d.preventsfirmsfromhiringpermanentreplacementsforworkerswhoareonstrike.    

    11) In economics, the term “free rider” refers to A) a person who evades taxes. B)  a supervisor who delegates menial time-consuming activities to others. C) one who volunteers her services. D) one who waits for others to produce a good and then enjoys its benefits without paying for it.     12) The demand curve for a public good is also called […]

    41) When the Fed buys $100 million of securities from a commercial bank the A) monetary base increases. B) money supply decreases. C) bank’s reserves decrease. D) required reserve ratio decreases. E) bank is risking its depositors’ money.   42) If the reserve requirement is 20 percent and the Fed buys $10,000 worth of Treasury bonds, what is the change in the banks’ […]

    64.As a limited partner in a venture capital limited partnership, today you committed to investing $70 million dollars. What amount must you contribute immediately? a.$70 million b.$80 million c.$90 million d.probably less than $70 million       65.Venture capital funds typically use stage financing in order to a.ensure that the entrepreneur is disciplined in goal achievement. b.to minimize risk. c.to retain an […]

  17.2   The Supply of Labor   1) An individual’s labor supply curve shows A) the maximum wage rates offered to that individual by various potential employers. B) the relationship between wages and the quantity of labor that she is willing to supply. C) the relationship between wages and the quantity of labor that a firm is willing to employ. D) the relationship between the […]

    41) The ________ of the term structure states the following: the interest rate on a long-term bond will equal an average of short-term interest rates expected to occur over the life of the long-term bond plus a term premium that responds to supply and demand conditions for that bond. A) segmented markets theory B) expectations theory C) liquidity premium theory D) separable markets […]

    41) When unskilled teens earn less than college graduates, society answers the ________ question. A) how B) what C) for whom D) why E) social interest versus self-interest   42) Canada has nationalized health care, so that everyone, regardless of their ability to pay, has some access to health care. Based on this observation, Canada has decided that “everyone, regardless of their ability […]