From ________ the stock market as measured by the S&P 500 index had a record boom.
A. 2000-2002
B. 1973-1976
C. 1986-1988
D. 1995-2000
Answer: D
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An appreciation of the U.S. dollar occurs when
A) the international price of the dollar falls. B) the international price of the dollar rises. C) the supply of dollars in international markets increases. D) the U.S. demand for foreign currencies increases.
In a common-value auction
a. Every bidder knows the exact value of the item being auctioned b. Each bidder knows everyone else's value of the item c. The value of the item is different for all the bidders d. None of the above
According to the modern expectational Phillips curve, unemployment will temporarily rise above the natural rate of unemployment when
a. any inflation is present. b. inflation turns out to be lower than what people expected. c. inflation turns out to be higher than what people expected. d. inflation turns out to be equal to what people expected.
Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the tax revenue raised by the government?
A. Triangle A B. Rectangle B C. Rectangle B + Triangle C D. Rectangle B + Rectangle D