What is a mutual fund?
An institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds.
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Which of the following statements is true?
A) Black markets for currency are more likely to occur in countries with undervalued currencies than with overvalued currencies. B) Black markets for currency are more likely to occur in countries with convertible currencies than with non-convertible currencies. C) Black markets for currency are more likely to occur in countries with overvalued currencies than with undervalued currencies. D) Black markets for currency are equally likely to occur in countries with undervalued currencies or with overvalued currencies.
The more time people have to adjust to a price change:
A. the less elastic their demand will be. B. will not affect the elasticity of their response unless it is a luxury good. C. the more elastic their demand will be. D. will not affect the elasticity of their response unless the good is a necessity.
A difference in wages that reflects differences in the nonpay features of two jobs is called
a. a compensating differential. b. a wage adjustment. c. an efficiency wage. d. a minimum wage.
If the price of a good in a closed economy is greater than the world price, then if the country opens its markets to world trade the country will be a ________ of that good.
A. producer B. net exporter C. importer and exporter D. net importer