The Dow Jones industrial average
a. buys and sells municipal bonds from bond rating agencies
b. is a stock exchange that performs IPOs
c. was founded on Wall Street in 1926
d. is a stock index consisting of the 30 largest company stocks
Ans: d. is a stock index consisting of the 30 largest company stocks
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45° line diagrams show how
a. investment varies with income. b. expenditures vary with income. c. investment spending rises when GDP rises. d. GDP is affected by government purchases.
In a dictator game, player A must divide $100 between player A and player B. In this game, player B does not have the opportunity to reject an offer — he or she goes home with whatever player A offers. Experiments have observed that when player A splits the $100, he or she consistently offers over $10 to player B. Which of the following comments fits best
a. Although player A is acting as economic theory usually assumes, he or she makes such offers because they seem more fair. b. Although player A is acting as economic theory usually assumes, he or she makes such offers although they are not fair. c. Although player A is not acting as economic theory usually assumes, he or she makes such offers because they seem more fair. d. Although player A is not acting as economic theory usually assumes, he or she makes such offers because they are not fair.
An economy with no government and no foreign trade tends to move toward equilibrium GDP because at output levels greater than equilibrium GDP, inventories are
A. Increasing, and actual investment is less than desired investment. B. Decreasing, and actual investment is less than desired investment. C. Increasing, and actual investment exceeds desired investment. D. Decreasing, and actual investment exceeds desired investment.
Which of the following is not true at the equilibrium rate of interest?
A. The quantity of money demanded is equal to the quantity of money supplied. B. There is a tendency for the money demand curve to shift to the right. C. People are willing to hold as much money as is currently supplied. D. There is no incentive for money owners to adjust their portfolios.