During the delivery period,
A) the futures price exceeds the price in the cash market.
B) the price in the cash market exceeds the futures price.
C) the futures price and the price in the cash market are equal.
D) there is no discernible relationship between the futures price and the price in the cash market.
C
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If fewer families purchase health insurance because of rising health insurance premiums, then health insurance premiums are likely to rise further due to:
A. commitment problems. B. moral hazard. C. adverse selection. D. first-dollar coverage.
Per capita GNP is defined as a country's GNP divided by its
A) population. B) labor force. C) capitalists. D) None of the above.
Sky-High Skywriters raises its price, and the other four firms in the industry raise their prices in response. Coordination in this industry is accomplished by
A. Predatory pricing. B. Price leadership. C. Retaliation. D. Price-fixing.
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.