In the GDP accounts, investment includes the purchase of newly issued shares of stock.
Answer the following statement true (T) or false (F)
False
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If all firms are identical, output prices will never change.
Answer the following statement true (T) or false (F)
In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid B) the auctioneer begins the bidding process with a low starting bid C) the auctioneer begins the bidding process with a high starting bid D) the bidders decide the starting bid
As price levels change, the purchasing power of income and wealth has varying effects on the level of consumption spending in an economy. This is called the _____
a. interest rate effect b. exchange rate effect c. wealth effect d. accelerator effect
Professional baseball teams in the United States use only wooden bats. If aluminum bats were permitted, the likely result would be
a. a shift in the supply curve for aluminum bats. b. a shift in the supply curve for wooden bats. c. a shift in the demand curve for aluminum bats d. a persistent shortage of aluminum bats. e. a persistent shortage of wooden bats.