A bond is
A) a debt instrument, that is, the issuer has taken out a loan.
B) an equity instrument, that is, the buyer has purchased ownership in the issuer's firm.
C) the same thing as a stock.
D) a short-term loan from the government.
Ans: A) a debt instrument, that is, the issuer has taken out a loan.
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Belgium's real GDP per person is $33,000 and Austria's is $34,700. The population growth rate in Belgium is 0.13 percent and the growth rate of real GDP is 3.0 percent
The population growth rate in Austria is 0.08 percent and the growth rate of real GDP is 3.3 percent. If these growth rates continue, how many years will it take for Belgium's real GDP per person to equal Austria's real GDP per person? A) Belgium's standard of living will never equal Austria's. B) just over 23 years C) just over 24 years D) just over 21 years E) over 230 years
An increase in the price level ________ real wealth, which causes consumption to ________
A) lowers; decrease B) raises; decrease C) lowers; increase D) raises; increase