For baseball memorabilia fans, the baseball with which Hank Aaron hit his 735th career home run is perfectly inelastic in supply and in demand
Indicate whether the statement is true or false
FALSE
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Unlike the New York Stock Exchange, NASDAQ is an electronic stock market with trades executed through a sophisticated computer and telecommunications network.
Answer the following statement true (T) or false (F)
Although the FDIC was created to prevent bank failures, its existence encourages banks to
A) take too much risk. B) hold too much capital. C) open too many branches. D) buy too much stock.
Suppose that the economy is in a position of short-run equilibrium at a point where real GDP is below the full-employment level. Assuming no further change in aggregate demand and self-correction, the movement to a new long-run equilibrium includes a decrease in which of the following? a. The unemployment rate
b. The price level (CPI). c. The level of nominal wages and salaries. d. All of the above.
A firm that sells its output and hires its labor in perfectly competitive markets
a. controls the price of its output, but accepts the wage rate it pays as given b. controls both the price of its output and the wage rate it pays c. controls the rate it pays, but accepts the price of its output as given d. accepts both the price of its output and the wage rate it pays as given e. controls the price of its output, the wage rate it pays, and its own output level