Rent-seeking activities are socially wasteful because they use scarce resources but do not add to society's output
a. True
b. False
A
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In a world lacking property rights, it would be ________ to realize the gains from trade and there would be ________ specialization
A) easier; less B) easier; more C) harder; less D) harder; more
The actions that the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives refer to
A) fiscal policy. B) monetary policy. C) quantitative analysis. D) Federal Reserve transparency.
Along a perfectly competitive industry's long-run supply curve
A) economic profits are positive. B) economic profits are zero. C) entrepreneurs earn an above-average rate of return. D) the number of firms is constant.
Which of the following factors would be considered by a fundamental analyst when predicting a firm's stock price?
a. recent changes in the stock's price b. the knowledge and skills of the firm's current management c. the marketing strategies of the firm's competitors d. a "head and shoulders" shape in a line graph of the firm's stock price e. both b and c