If the Consumer Price Index was 120 in one year and 115 in the next year, then the rate of inflation from one year to the next was:
A. positive 4.2 percent.
B. negative 5.0 percent.
C. negative 4.2 percent.
D. positive 5.0 percent.
Answer: C
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Which of the following statements is TRUE?
A) State and local governments cannot default on their bonds. B) Bonds issued by state and local governments are called municipal bonds. C) All government issued bonds—local, state, and federal—are federal income tax exempt. D) The coupon payment on municipal bonds is usually higher than the coupon payment on Treasury bonds.
Because the United States was the reserve-currency country under the Bretton Woods system, it could run large balance of payments ________ without ________ significant amounts of international reserves
A) deficits; losing B) deficits; gaining C) surpluses; losing D) surpluses; gaining