Exchanges of stocks take place
A) in New York City only.
B) in the principle financial city of each country, such as New York City for the United States and London for England.
C) in a decentralized fashion around the world.
D) in centralized physical locations known as stock exchanges and online through Internet brokers.
Answer: D
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The national debt
a. will be zero when the federal budget is balanced. b. has been shrinking in the last 30 years. c. is equal to the government's budget deficit. d. can grow without negative economic effects. e. is a flow measure while the deficit is a stock measure.
The average height of a professional basketball player is 6 feet, 2 inches while the average height of a professional jockey is 5 feet. If we translate this information into the context and concepts associated with international trade, we can say that
a. each has an absolute advantage over the other in their professional sport b. because of the height advantage, the basketball player can do both better than the jockey, but has a comparative advantage in basketball c. because of the height disadvantage, the jockey has no absolute advantage d. basketball is a more efficient sport than horse racing e. racing is a more efficient sport than basketball
According to Adam Smith, the "invisible hand" refers to which of the following?
a. Government interference in markets to prevent greed. b. The "best interests of society" (public interest) will occur as an outcome of the market process coordinating the self-interested interactions of buyers and sellers (private interest). c. The "best interest of society," (public interest) will occur as an outcome of careful guidance by government authorities in allocating scarce goods and services according to private interest. d. Bribes and graft that interfere with the market process.
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $30?
A. 3 B. 2 C. 4 D. 1