In investment banking, a conflict usually is present between the issuers of securities, who ________, and investors, who ________
A) benefit from unbiased auditing; desire unbiased consulting
B) desire unbiased research; benefit from optimistic research
C) benefit from optimistic research; desire unbiased research
D) desire unbiased consulting; benefit from unbiased auditing
C
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The change in cost that results from a one-unit increase in output is called the
A) average fixed cost. B) per-unit variable cost. C) per-unit total cost. D) marginal cost. E) average cost change.
If the instruments are not exogenous,
A) you cannot perform the first stage of TSLS. B) then, in order to conduct proper inference, it is essential that you use heteroskedasticity-robust standard errors. C) your model becomes overidentified. D) then TSLS is inconsistent.
Suppose that the cross price elasticity of demand between good A and good B is -1.2. This indicates that the two goods are
A. complements. B. substitutes. C. both inferior. D. completely unrelated in the minds of consumers.
Which of the following stock market decreases is best explained by the notion of a bubble collapsing?
A. The U.S. stock market in technology stocks in 2000 B. The early-1982 drop in the DJIA C. The U.S. stock market's drop in late 2008 D. The decade of the 1970s