By the 2000s, an important market change occurred when investment banks became significant participants in the secondary market for
A) corporate bonds.
B) currency.
C) mortgages.
D) Treasury securities.
C
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If the demand effect dominates during a currency depreciation, then
A. real GDP should fall. B. real GDP should increase. C. the price level should fall. D. net exports should decrease.
Refer to Figure 3-1. An increase in the price of a complement would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
At the profit-maximizing level of employment, the monopsonist
A) pays a wage equal to MRP. B) pays a wage greater than MRP. C) pays a wage less than MRP. D) pays a wage equal to MFC.
Which of the following statements is true?
A. Improvements in production technology do not affect the shape or position of the production-possibility curve. B. Biased growth leads to a proportionate shift in the production-possibility curve. C. Increases in a country's endowments of land, labor, and capital will lead to long-run economic growth. D. Improvements in the technology used in production can lead to increases in current output levels but are not a source of long-run economic growth.