Professional securities analysts achieve high rate of investment success following a random walk strategy.

Since mid-2000, the Fed's only operating target has been

A) M2 money supply growth. B) the discount rate. C) the consumer price index. D) the federal funds rate.

A certain machine will last one year, will produce $120 in income (received one year later), and will cost $100 . The lowest interest rate at which this investment will be unprofitable is

a. 10 percent. b. 11 percent. c. 19 percent. d. 22 percent.