The Standard and Poor's 500 index is
A. an index based on the stock prices of 30 actively traded large companies.
B. an index of 5,000 companies traded on the national association of securities dealers automatic quotation system.
C. an index based on the 500 largest whose market value is close to the market value of all firms in the economy.
D. an index of a basket of consumer good purchased by the typical consumer.
Answer: C
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A country opens up to trade and becomes an exporter of wheat. In the wheat market, consumer surplus will ________, producer surplus will ________, and total surplus will ________
A) decrease; increase; increase B) increase; decrease; increase C) decrease; increase; decrease D) remain unchanged; increase; increase
A popular shoe company has a 'buy one, get one half price' offer in which customers who purchase one pair of shoes can purchase a second pair at half price. This is an example of ________ and is ________.
A) price discrimination; only illegal if the practice substantially lessens competition or tends to create a monopoly B) conditional sales; only illegal if the practice substantially lessens competition or tends to create a monopoly C) price discrimination; always illegal per se D) conditional sales; always illegal per se
Exports amount to about 11 percent of U.S. GDP
a. True b. False
Suppose a drop in prices in the stock market makes people feel less financially secure. This would cause __________ the economy's AD curve
A) movement down along B) movement up along C) a rightward shift of D) a leftward shift of