1. Which of the following are accurate in an oligopoly with stable equilibrium?

I. Marginal revenue is greater than marginal price.
II. All companies are producing the same level of output.

2. A 10 Year semi-annual 8% coupon bond is selling at USD967. If the yields increase by 50 basis points the price is expected to fall to USD924 and if the yields decrease by 50 Basis points the price is expected to rise to $1010.

The effective duration is closest to:

3. Management fees in private equity are ________ those in hedge funds in that _________.

4. The percentage returns for a stock for a 5-year period are provided below:

2008: 12%
2009: 9%
2010: -2%
2011: 12%
2012: 8%

What is the standard deviation of the stock returns? You should treat the 5 year period as the population, not as a sample.

5. Which of the following forms of trading blocs allow for unrestricted trade of goods and services among its members?

I. Free trade areas
II. Customs unions
III. Common market