The coupon equivalent yield of a one-year Treasury bill with a $1,000 face value and a current price of $970 is __________ percent

A tax is efficient if

A) it is based on profits earned and not on wages. B) it imposes a small excess burden relative to the revenue it raises. C) it encourages saving and investment. D) individuals with the lowest incomes pay proportionately lower taxes than individuals with the highest incomes.

The opportunity costs of production in two countries engaged in trade

a. determine which country has an absolute advantage b. influence their domestic inflation rates c. lead to a higher level of economic efficiency d. create shifts of the production possibilities frontiers (PPF's) of both nations e. define the limits of the terms of trade