All secondary trading of municipal bonds occurs
A) through commercial banks.
B) in the over-the-counter market.
C) through life insurance companies.
D) in the New York Municipal Bond Market.
B
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At a perfectly competitive firm's short-run equilibrium level of output,
a. P = MR = MC. b. P = MR, but MR does not equal MC. c. P = MC, but MR does not equal MC. d. MR = MC and P < MR.
If the demand for steak increases as income increases, then steak is a(n):
A. normal good. B. substitute good. C. inferior good. D. complementary good.
Suppose that the total expenditures for a typical household in 2010 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2015 was $3,000. If 2010 is the base year, the CPI for 2010 equals:
A. 1.00 B. 1.20 C. 1.25 D. 0.83
Too much of a good is produced if some external benefits of producing or consuming it are ignored by the private decision makers.
Answer the following statement true (T) or false (F)