Paul Samuelson, a famous economist, said that
a. "the bond market has predicted zero out of the past nine recessions.".
b. "the stock market has predicted zero out of the past nine recessions.".
c. "the bond market has predicted nine out of the past five recessions.".
d. "the stock market has predicted nine out of the past five recessions.".
d
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Insurance is possible and can be profitable because of
A) private information. B) adverse selection. C) moral hazard. D) consumers are risk aversion.
Why is it possible that the economy will not self-correct out of a recessionary gap?
What will be an ideal response?
The disposable income component of aggregate demand is equal to:
a. income before taxes. b. income after taxes. c. operating income. d. investment income.
The phrase "no such thing as a free lunch" means
a. people must face tradeoffs. b. rational people think at the margin. c. people respond to incentives. d. trade can make everyone better off.