What does it mean for a money market mutual fund to "break the buck"?
A) The value of its share declines below $1.
B) It incurs losses on its investments.
C) It increases its fees to more than 1% of net asset value.
D) It is unable to meet the demand for withdrawals by investors.
A
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Innovation typically increases when
A) high taxes are present. B) the legal system is weak. C) government controls the resource base. D) market incentives and private property rights are encouraged.
Which of the following is not correct?
a. High-skilled immigration has many economic benefits. b. Each year in the United States, about one-third of the people earning a PhD. in science or engineering are foreign born. c. Low-skilled immigration lowers the earnings of native-born workers by 10-20 percent. d. Illegal immigrants may pay less in taxes, but they also are ineligible for many government benefits.
According to the simple quantity theory of money in the AD-AS framework, the AD curve is
A) vertical. B) downward sloping. C) horizontal. D) upward sloping.
The economies of most less-developed countries (LDCs) are based on:
A. agriculture. B. manufacturing. C. services. D. oil.