"Good news" about an expenditure-related indicator drives bond prices __________ and stock prices __________
A) up; up
B) up; down
C) down; up
D) down; down
C
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What has happened to resource prices in the twentieth century and what do they reveal about resource scarcity?
Which statement is true?
A. The government sector of GDP is larger than the consumption sector. B. The federal government spends about five percent of our GDP on interest on the debt. C. The federal government spends more on Social Security and Medicare (combined) than it does on defense. D. None of these statements are true.
Since 1950, farm productivity has:
A. advanced twice as fast as in nonfarm sectors of the economy. B. lagged behind productivity advances in the nonfarm economy. C. almost exactly matched productivity increases in the rest of the economy. D. doubled.
If a firm is an oligopolist, which is NOT true?
A) It must pay attention to other firms' prices. B) It is one of a relatively small number of firms dominating its industry. C) It can sell all the units it wants at the going market price. D) It is engaged in a strategic game.