The market for electricians in a small town might have a different structure than in a large city because
A) cartels are legal in large cities but not in small towns.
B) the small town market can only support a few electricians.
C) unions are stronger in large cities than in small towns.
D) None of the above.
B
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According to the quantity theory of money, money growth and inflation are
A) positively correlated. B) negatively correlated. C) independent, that is, not correlated. D) positively correlated if the inflation rate is positive and negatively correlated if the inflation rate is negative.
The most unequal distribution of income in the above figure exists in
A) country 4. B) country 1. C) country 5. D) country 3.
Which of the following is NOT an example of a regional trade bloc?
A) the North American Free Trade Agreement B) the European Union C) the Asian-Pacific Trade Agreement D) Mercosur
The random walk theory indicates that
a. investors can make money by purchasing stocks that are widely expected to earn substantial profits in the future. b. while changes in the prices of specific stocks are difficult to predict, experts are able to forecast the future direction of broad stock market indexes with a high degree of accuracy. c. changes in stock prices are driven by surprise occurrences that are difficult for anyone to predict accurately. d. managed mutual funds will persistently outperform indexed funds.