An unexpected rise in the Purchasing Managers' Index should send bond prices __________ and stock prices __________
A) up; up
B) up; down
C) down; up
D) down; down
C
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Political creative destruction is likely to be opposed:
A) equally in all types of economies. B) more in a market economy than in a command economy. C) more in an economy with inclusive institutions than in an economy with extractive institutions. D) less in an economy with inclusive institutions than in an economy with extractive institutions.
At any quantity of output below the intersection of the marginal revenue and marginal cost curves:
A. ATC is lower than AVC. B. MC is higher than MR. C. MR is higher than MC. D. the firm would lose profits producing the units.
When Cabbage Patch Dolls were introduced, they were extremely popular at Christmas, and most stores sold out. By the next year, there were plenty still available at Christmas. What happened?
Automatic stabilizers are government programs that:
A. exaggerate the ups and downs in aggregate demand without legislative action. B. bring expenditures and revenues automatically into balance without legislative action. C. shift the budget toward a deficit when the economy slows but shift it toward a surplus during an expansion. D. increase tax collections automatically during a recession.