Based on the graph showing the run-up of nominal home prices, if a person had wanted to buy a house, hold it for five years, and then sell it for a profit, which of the following years would have been the best to make the purchase in?
a. 1899
b. 1941
c. 1984
d. 2001
d. 2001
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A bond is a financial security that represents
A) the portion of profits paid to shareholders. B) ownership in a corporation. C) the interest rate paid on a share of stock. D) a promise to repay a fixed amount of funds.
Perfectly competitive markets are not the best at producing the goods that are desired by consumers
a. True b. False Indicate whether the statement is true or false
In the absence of externalities, what can be said about the invisible hand of the marketplace?
a) It induces people to act in a matter inconsistent with self-interest. b) It leads to a market outcome that maximizes total benefit to society. c) It increases the transaction costs of contracting between parties in an exchange. d) It is unable to resolve inherent inefficiencies in market system.
Which statement is true?
A. Right-to-work laws promote the formation of union shops. B. A monopsony is the only buyer of a product for which there are no close substitutes. C. Under a union shop, an employer may hire only union workers. D. Monopsonies are illegal under the Taft-Hartley Act.