Sue purchases a 10-year par value bond with semi-annual coupons at a nominal annual rate of 4% convertible semi-annually at a price of $1,021.50. the bond can be called at par value x on any coupon date beginning at the end of year 5. the price guarantees that sue will receive a nominal annual rate of interest convertible semi-annually at 6%. what is x?

Crowding out is a phenomenon focused upon most by the macroeconomists of whereby a government deficit interest rates, which in turn private investment spending. this group also believed that fiscal policy is the only thing that can lower natural unemployment. is just as effective in countering recessions as monetary policy. can be used most of the time, but monetary policy becomes a better option when velocity is fluctuating. should be used only if the central bank follows a monetary policy rule. faces problematic lags in propagating changes throughout the economy.