Which of the following is one of the most widely followed stock indexes in the United States?
A) the Fortune 500 B) the Securities and Exchange Commission
C) the Dow Jones Industrial Average D) the Chicago Mercantile Exchange
C
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When studying the market for resources, it is important to understand that:
a. resources are wanted not for themselves, but for what they produce. b. demand for resources is generally inelastic in nature. c. derived demand does not apply to the resource market. d. resource markets do not conform to the laws of supply and demand as other markets do. e. supply is much more important than demand in determining the price of a resource.
When the demand for automobiles falls, the demand for autoworkers
A. rises. B. falls. C. may rise or fall.
The Leontief production function:
A. is Q = max{bK, cL}. B. is Q = aK + bL. C. implies inputs are used in fixed proportions. D. implies inputs are used in variable proportions.
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.