The efficient markets theory of stock prices, implies that
a. mutual funds are the best means of investing in the stock market
b. it's better not to invest in the stock market at all
c. you should only invest in the stock market if you have inside information
d. you should alter your portfolio frequently to keep up with the quick movements of the market
e. you can do as well on the stock market as an expert, even if you pick your stocks randomly
E
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By the height of the housing bubble in 2005 and early 2006, lenders had greatly loosened the standards for obtaining a mortgage loan, with many mortgages being granted to ________ borrowers with flawed credit histories and ________ borrowers who did
not document their incomes. A) adjustable rate; shadow-banking B) "fresh-start"; prime rate C) sub-prime; "Alt-A" D) "credit crunch"; black market
If the federal government were to run a budget deficit, this would
a. increase the size of the national debt. b. reduce the size of the national debt. c. leave the size of the national debt unchanged. d. increase the national debt only if the government also expands the supply of money.
Marginal cost is the
A. change in total cost resulting from the purchase of one more unit of the variable input. B. change in total cost resulting from the production of one more unit of output. C. difference between total fixed cost and total variable cost. D. difference between total cost and total expenditure.
In an English open outcry auction,
a. bidding opens at a high price and then the price falls until only one buyer remains b. bids and offers may be made in any order c. sellers with market power capture most of the benefit d. sellers outnumber buyers e. bidding opens at a low price and the price then increases until only one buyer remains