Recessions are largely the result of
A) high wages.
B) the wishful thinking of zero economic growth advocates.
C) widespread and systemic errors from manipulated market signals.
D) none of the above.
C
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Economists who believe that the 1995-2012 rise in the average rate of productivity growth will be long lasting say that:
A. the United States is entering an era of high structural unemployment due to rapid technological change. B. technological advance creates its own supply, which in turn creates its own demand. C. innovations in computers and communications, together with global capitalism, are greatly boosting U.S. productivity and the economy's potential economic growth rate. D. technological change will require more central planning and government regulation.
A bond that pays annual interest (or coupons) and a face value at maturity will fetch a price today that is equal to the:
A. Future value of its annual coupons and face value B. Future value of its annual coupons minus its face value C. Present value of its annual coupons and face value D. Present value of its annual coupons minus its face vale