Most of the buying and selling in primary markets:
A. is in the public view.
B. is highly transparent and closely monitored by the SEC.
C. is done by the Federal Reserve.
D. involve an investment bank.
Answer: D
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Refer to Figure 3-4. If the current market price is $25, the market will achieve equilibrium by
A) a price decrease, decreasing the supply and increasing the demand. B) a price increase, increasing the quantity supplied and decreasing the quantity demanded. C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded. D) a price increase, increasing the supply and decreasing the demand.
When calculating the price elasticity of demand, it is assumed that all of the other determinants of demand are to be held constant
Indicate whether the statement is true or false
A main rationale for government intervention in markets ________ and ________
A) is to reduce producer surplus; redistribute wealth B) concerns the creation of public goods; reduces free-riding C) is to correct market failures; increase surplus D) There is never an economic rationale for government intervention.
Gold, silver, and cigarettes in a prisoner of war are all examples of commodity money.
Answer the following statement true (T) or false (F)