"Inside information" is the use of information
A) by those who read the companies' annual reports.
B) by those who write the companies' annual reports.
C) by stockbrokers at the largest brokerage firms.
D) that is not available to the public.
Answer: D
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Lee and Cody are playing a game in which Lee has the first move at A in the decision tree shown below. Once Lee has chosen either aggression or cooperation, Cody, who can see what Lee has chosen, must choose either aggression or cooperation at B or C. Both players know the payoffs at the end of each branch. 
If Lee chooses aggression, Cody will respond with ________, and if Lee chooses cooperation, Cody will respond with ________.
A. cooperation; aggression B. aggression; cooperation C. cooperation; cooperation D. aggression; aggression
Which of the following is the BEST example of a private good?
A) a can of Mountain Dew B) fish in the ocean C) cable television D) national defense
When buying a piece of equipment, it is always best for the firm to pay cash instead of borrowing the funds since this renders the equipment less costly
Indicate whether the statement is true or false
Which of the following is not true about technological progress?
A) allow for the production of a larger quantity of goods using the same number of workers B) lead to the production of new goods C) lead to the disappearance of old goods D) cause a reduction in employment in the short run E) none of the above