The length of time until a bond matures is called the
a. perpetuity.
b. term.
c. maturity.
d. intermediation.
b
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Funding for canals came from which of the following sources?
(a) Private investments and tolls (b) Taxes (c) Borrowing on government credit (d) All of the above
Suppose labor productivity differences are the only determinants of comparative advantage, and Brazil and Chile both produce only coffee and sugar. In Chile, either 5 units of coffee or 2 units of sugar can be produced in one day. In Brazil, a day of labor produces either 2 units of coffee or 1 unit of sugar. Which of the following statements is true?
a. Brazil has a comparative advantage in producing coffee. b. Brazil has a comparative advantage in producing both coffee and sugar. c. Chile has a comparative advantage in producing both coffee and sugar. d. Neither Chile nor Brazil has a comparative advantage in producing coffee. e. Brazil has a comparative advantage in producing sugar.