One of the most widely followed stock indexes in the United States is the S&P 500. This index represents
A) the stock prices of the 500 most valuable firms worldwide.
B) the stock prices of more than 4,000 U.S. firms.
C) the stock prices of 500 large U.S. firms.
D) the stock prices of 30 large U.S. corporations.
C
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A perfectly competitive firm will shutdown when the price is just below the minimum point on the
A. marginal revenue curve. B. average variable cost curve. C. average fixed cost curve. D. marginal cost curve. E. average total cost curve.
Each year, the president must submit a budget proposal to Congress by:
a. October. b. July. c. January. d. April.
The pattern of protection in industrial countries is particularly harmful to the interests of
A) low-income developing countries. B) high-income industrial countries. C) Asian nations. D) European nations.
Excess quantity demanded may result from
A) a government-imposed minimum price above market equilibrium. B) a government-imposed maximum price below market equilibrium. C) an oversupply of output. D) technological progress.