Which of the following statements is (are) correct? Over the past 20 years, the Federal Reserve
a. has only targeted monetary aggregates.
b. has varied between an emphasis on interest rate control and targeting of monetary aggregates.
c. has only emphasized control of the interest rate.
d. None of the above
B
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Which of the following $1,000 face-value securities has the highest yield to maturity?
A) a 5 percent coupon bond with a price of $600 B) a 5 percent coupon bond with a price of $800 C) a 5 percent coupon bond with a price of $1,000 D) a 5 percent coupon bond with a price of $1,200
Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will be paid by the hour. Under this contract,
A) production efficiency is not achieved. B) the client bears all of the risk. C) the lawyer has an incentive to lie about his hours worked. D) All of the above.