Which of the following stock market increases is best explained by the notion of a bubble?
A. The late-1982 rally in which the DJIA doubled in 4 months
B. The U.S. stock market's growth in 2009
C. The U.S. stock market in technology stocks the late-1990s
D. The decade of the 1980s
Answer: C
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If the monetary base doubles but the ratios of currency/deposit and reserves/deposits remain the same, then:
a. The money supply doubles. b. The money supply quandrouples. c. The money supply changes by two times the money multiplier. d. The money supply remains unchanged.
Natural monopoly exists when:
A. one firm can supply the entire quantity demanded at higher cost than two or more firms. B. the long-run average cost curve exhibits constant returns to scale. C. one firm can supply the entire quantity demanded at lower cost than two or more firms. D. one firm can supply the entire quantity demanded at the same cost as two or more firms.
An increase in supply, with no change in demand, will lead to ______ _ in equilibrium quantity and ________ in equilibrium price.
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.