The market for new issues of stock is called the
a. primary market.
b. secondary market.
c. The New York Stock Exchange (NYSE).
d. The Chicago Board of Trade.
A
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When a society achieves allocative efficiency, it
A) is not achieving production efficiency. B) is producing that combination of goods and services that society values most highly. C) might or it might not be producing at a point on society's PPF. D) is producing a combination of goods and services whose marginal cost exceeds their marginal benefit. E) is producing the combination of goods and services for which marginal benefit exceeds marginal cost by as much as possible.
In 1920 a constitutional amendment was passed that outlawed the production, sale, purchase, and consumption of alcoholic beverages. "Prohibition" encouraged bootlegging and black markets for whiskey, wine, and beer
The amendment was eventually repealed in 1933. In 1920, what alternative economic policy was available to the government as a means of reducing alcohol consumption nationwide?
If a U.S. citizen deposits $10,000 in a foreign bank, and the bank uses the $10,000 to buy assets in the U.S., then ________
A) the U.S. has experienced a net capital outflow B) the U.S. has experienced an increase in net exports C) the foreign economy has experienced a net capital outflow D) the foreign economy has experienced an increase in net exports E) none of the above
What is the relationship between real and nominal GDP?
a. real GDP = nominal GDP – Price level b. nominal GDP = Real GDP/Price level c. real GDP = nominal GDP/Price level d. real GDP = nominal GDP + Price level.