According to the textbook, government price controls fail because:
A. bureaucrats lack accurate market data.
B. firms ignore the price controls.
C. legislation cannot alter basic economic incentives.
D. they are not enforced by government.
Answer: C
Economics
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How much is a bond worth today if it pays $50 in coupon payments for 3 years and $1,000 at the end of the third year, and the interest rate is 10%?
A) $876 B) $952 C) $1,045 D) $1,150
Economics
Which of the following statements is correct?
a. Growth of productivity is the main determinant of growth in living standards. b. Common knowledge and proprietary technology are both important for the economy's production of goods and services. c. The terms capital and physical capital refer to the same thing. d. All of the above are correct.
Economics