The existence of rating agencies has
A) lowered returns on corporate bonds.
B) raised returns on corporate bonds.
C) left returns on corporate bonds largely unaffected.
D) raised returns on both corporate bonds and Treasury securities.
A
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Rational ignorance refers to voter-citizens choosing to be uninformed about politics and government on an individual basis because
A) of apathy. B) of ignorance. C) of laziness. D) they believe the benefits of becoming informed are greater than the costs. E) they believe the benefits of becoming informed are less than the costs.
Which of the following is not a characteristic of the structure of perfectly competitive markets?
A. Each individual firm is small in size relative to the overall market. B. Few sellers. C. Homogeneous product. D. Easy, low cost entry and exit.
Which of the following statements is TRUE for society as a whole?
A) Supply of services always reflects all social costs. B) Demand for services always reflects all social costs. C) Private costs are not always equal to social costs. D) Social benefits are always emphasized in advertising.
A summary of a country's economic transactions with foreign residents and governments is called the
A. balance of trade. B. financial account balance. C. balance of payments. D. current account balance.