The spread between the bid price and the offer price is a measure of
A) the underwriters' spread.
B) brokers' fees.
C) liquidity costs.
D) sunk costs.
C
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What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. the Celler-Kefauver Anti-Merger Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Clayton-Celler Act
During this century, the growth rate of real GDP in the United States has averaged approximately
What will be an ideal response?
In long-run equilibrium, purely competitive markets:
A. minimize total cost. B. maximize the sum of consumer surplus and producer surplus. C. yield economic profits to most sellers. D. inevitably degenerate into monopoly in increasing-cost industries.
The more bowed the Lorenz curve, the
A) richer the society. B) more unequal the distribution of money income. C) poorer the society. D) more equal the distribution of income.