When Electronic Arts, the company behind the games Zuma and Plants vs. Zombies, sold stock to the public for the first time in September 1989, funds were being raised in a ________ market, and when those newly issued shares are resold to other buyers,
the sales take place in a ________ market.
A) primary; primary
B) primary; secondary
C) secondary; primary
D) secondary; secondary
Answer: B
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Is this game a prisoner's dilemma?
A. Yes, because if both firms played their dominated strategy, they each would earn a higher payoff than when they both play their dominant strategy. B. No, because neither firm has a dominant strategy. C. Yes, because if both firms played their dominant strategy, they each would earn a higher payoff than when they both play their dominated strategy. D. No, because cheating yields the highest payoff for both firms.
The supply of workers in a particular occupation could be relatively small if:
A. training costs are high. B. job features are undesirable. C. there are few people with the required skills. D. All of these are correct.
A perfectly competitive firm does not try to raise its price above the market price because
A. its competitors would not permit it. B. this would be considered unethical price chiseling. C. its demand curve is inelastic, so total revenue will decline. D. it would not be able to sell its output.
The economy is initially at point 1. Which of the following events would cause a shift that would help offset the crowding-out effect? An increase in:
Refer to the above graph.
A. Interest rates caused by a change in Federal Reserve policy
B. Profit expectations resulting from an increase in government spending
C. Business taxes levied by government to pay for new government programs
D. The degree of excess capacity in business stemming from a recession