What is true of stock exchanges in the United States?
A. There are two major stock exchanges in New York, several smaller regional exchanges across the nation, and over-the-counter trading via NASDAQ.
B. The New York Stock Exchange is the only stock exchange in the United States.
C. There are only two stock exchanges, NYSE and AMEX.
D. There are only three stock exchanges, NYSE, AMEX, and NASDAQ.
Answer: A
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Which of the following statements is true?
A) Labor markets in the United States are frictionless. B) The market wage rate is always below the equilibrium wage rate in a frictionless labor market. C) There is always some unemployment in a frictionless labor market. D) Both employees and employers have complete information about each other in a frictionless labor market.
A tremendous flood along the Mississippi River destroys thousands of factories, reducing the nation's capital stock by 5%. What happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase. B) Both employment and the real wage rate would decrease. C) Employment would increase and the real wage would decrease. D) Employment would decrease and the real wage would increase.
If velocity and output are fixed at 5 and 400, respectively, and the price level is 2, then the money supply is
A) 4,000. B) 200. C) 160. D) 40.
A company finds that at the output level at which marginal cost equals marginal revenue, TC = $500, TVC = $400, and TR = $450. Your advice to the firm is
A) shut down, as TC > TR. B) reduce output to reduce the cost of production. C) increase output to reduce the per unit cost of production. D) continue to produce because loss is less than TFC.