Unlike brokers, securities dealers
A) operate in secondary markets.
B) risk capital losses.
C) trade "used" securities.
D) operate in primary markets.
B
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Milk can be used to produce cheese or butter. If the price of a pound of butter rises, what happens to the supply of cheese?
A) The supply of cheese decreases. B) The supply of cheese increases. C) The supply of cheese stays the same and there is a decrease in the quantity supplied of cheese. D) The supply of cheese stays the same and there is no change in the quantity supplied of cheese. E) The supply of cheese could increase, decrease, or stay the same depending on what happens to the supply of butter.
According to information in the textbook, in the early West, many of the open lands were overgrazed. This was largely because
A. landowners charged ranchers a fee to graze their cattle. B. the lands were unowned. C. a government policy in effect at the time subsidized cattle production. D. none of the above
A price floor establishes a minimum price, and a price ceiling establishes a maximum price
Indicate whether the statement is true or false
If the firm's fixed costs double while variable costs are unchanged, then
a. marginal cost more than doubles. b. marginal cost doubles. c. marginal cost remains unchanged. d. average total cost remains unchanged. e. average variable cost doubles.