Random walk theory says
A. throwing darts will pick winners.
B. random selection of stocks will do as well as other methods of stock choice.
C. speculation cannot lose if you wait long enough.
D. investment in stocks cannot be profitable.
Answer: B
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Economists divide productive resources into which of the following four broad categories?
a. land, labor, money, enterprise. b. land, labor, capital, enterprise. c. minerals, unskilled labor, semi-skilled labor, skilled labor. d. land, buildings, machinery, money.
If only one firm operates in a market, and a potential entrant is blockaded from entering the market, then the incumbent firm must
A) have acted to prevent entry. B) be pricing where price equals marginal cost. C) be a natural monopoly. D) be the Stackelberg leader.
The movement of workers between jobs, firms, and industries is called:
A. diminishing returns to labor. B. worker mobility. C. globalization. D. the reservation price.
In the United States, major money policy decisions are made by the ______.
a. 12 banks that comprise the Fed b. banks that have ownership of the Fed c. president of the United States with approval from the Senate d. Federal Reserve Board of Governors and the FOMC