________ is a flow of earnings per unit of time
A) Income
B) Money
C) Wealth
D) Currency
A
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Studies of mutual fund performance indicate that mutual funds that outperformed the market in one time period usually
A) beat the market in the next time period. B) beat the market in the next two subsequent time periods. C) beat the market in the next three subsequent time periods. D) do not beat the market in the next time period.
Perfect price discrimination:
A. creates no deadweight loss. B. maximizes producer surplus. C. eliminates all consumer surplus. D. All of these statements are true.
In contrast to the post–World War II period, before 1940 the government
A. actively intervened in the economy for stabilization purposes. B. used aggregate demand management to avoid recessions. C. rarely intervened in the economy to influence inflation or unemployment rates. D. used government ownership to guarantee full employment.
The base period is the
A. First year in which inflation figures were calculated. B. Absence of significant changes in the average price level. C. Time period when full employment is reached. D. Time period used for comparative analysis.