The concept that it is very difficult to consistently pick winners in the stock market without inside information is known as:
a. a random walk
b. a double coincidence of wants.
c. the crowding out effect.
d. arbitrage.
a
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Since one function of financial intermediaries is to provide liquidity:
A. regulations require financial intermediaries to keep 50% of their assets in cash. B. they keep almost all of their funds in cash. C. they must know approximately how much liquidity their customers will need each day and have these funds available. D. they must keep all of their funds in short-term securities.
When the increase in the price of one good causes the demand for another good to decrease, the goods are
A. inferior. B. substitutes. C. complements. D. normal.
Which of the following is true about poor populations?
A. The poor are disproportionately white. B. The poor are more likely to have graduated from high school. C. There are fewer poor whites than poor blacks. D. The poor are more likely to be children than the elderly.
Pure economic rent involves situations where
A. the quality of a resource can be varied but the price cannot be varied. B. the supply curve is perfectly inelastic. C. the supply curve is perfectly elastic. D. the uses to which a resource can be used can be varied but the quality of the resource cannot be varied.