Which of the following acts was/were designed to take out the risk in the securities industry?
(a) Truth in Securities Act of 1933
(b) Fair Labor Standards Act of 1938
(c) Social Security Act of 1935
(d) All of the above
(a)
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Which of the following best exemplifies a deadweight cost?
A) Eating something in a restaurant you don't really want because you have already paid for it. B) Paying for something in a restaurant but not eating it. C) Refusing dessert in a restaurant although it is included in the price of the meal. D) Tipping the waiter even though he gave slow, surly, and inattentive service. E) Waiting twenty minutes for a table to become available in a restaurant.
The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the total imports of cherries to the United States from other nations equals
A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.
If there is a decrease in foreign demand for U.S. goods due to a recession in Europe
A) the U.S. aggregate demand will shift right. B) the U.S. aggregate demand will shift left. C) the U.S. aggregate demand will not be affected. D) the U.S. aggregate demand will become steeper.
What are the earnings of a resource with a perfectly elastic supply curve called?
a. Transfer earnings b. Dividends c. Economic rent d. Capital gain e. Interest