The most important source of financial capital for firms today is
A) sale of bonds.
B) sale of new issues of stock.
C) trade of previously issued stock.
D) reinvestment of profits.
D
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When actual real GDP is above natural real GDP, we say that
A) the output gap is positive. B) the output gap is negative. C) the output gap has been eliminated. D) the output gap cannot be calculated.
Monopoly market structures may lead to lower prices than competitive markets in the presence of
a. price discrimination b. laissez-faire c. contestable markets d. substantial economies of scale e. countervailing power
Which of the following statements is true?
A. Conservative economists focus on incentives, and liberal economists do not. B. Most economists discredit individuals' abilities to choose reasonably. C. Liberal and conservative economists differ less often than laypeople think they do. D. Liberal economists focus on individual choice, and conservative economists do not.
One major assumption of economics is that people
A. always pursue the interests of others. B. behave randomly without any predictable pattern. C. act as if they systematically pursue self-interest. D. are sometimes rational and sometimes irrational.