In reading bond quotes:
A. the bid price is usually above the asked price.
B. the asked price is usually above the bid price.
C. the asked price is fixed over the life of the bond.
D. bid and asked prices must be equal as set forth by SEC regulations.
Answer: B
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The Dodd-Frank Act removed which group from decisions regarding the presidents of Federal Reserve Banks?
A) Class A directors B) Class B directors C) Class C directors D) Board of Governors
The long-run effect of an increase in the money supply is to
A. increase the price level. B. decrease the interest rate. C. decrease the price level. D. increase the interest rate.
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Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. As they groom more dogs, the opportunity cost of bathing additional dogs:
A. falls. B. rises. C. remains constant. D. depends on the prices being charged.
When a few firms sell similar products in a market, the market structure is most likely to be:
A. a perfectly competitive market. B. a monopoly. C. a monopolistically competitive market. D. an oligopoly.