Spot market is to futures market as
A) rice is to beans.
B) today is to tomorrow.
C) squares are to circles.
D) quarters are to dollars.
B
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A review of U.S. history provides evidence that
(a) class mobility is restricted. (b) race and gender barriers simply cannot be dismantled. (c) the wealthy and idle rich class has deep and permanent roots in the U.S. (d) there are no social barriers that cannot be overcome in the U.S.
A rise in demand for restaurant meals is likely to cause which of the following in the short run?
a. economic losses for each restaurant b. a lower price for each restaurant meal c. fewer restaurants in the industry d. more restaurants in the industry e. economic profit for restaurants
An increase in demand will have what effect on equilibrium price and quantity?
a. Price will increase; quantity will decrease. b. Price will decrease; quantity will increase. c. Both price and quantity will increase. d. Both price and quantity will decrease.
Velocity can be calculated as the ratio of:
A. nominal GDP to the money supply. B. the money supply to the price level. C. nominal GDP to real GNP. D. real GDP to the price level.