An index number is important only in a relative sense -- in comparison to an index number from another period
a. True
b. False
A
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An important implication of the idea that markets are efficient is that
A) an investor can make money by buying undervalued stocks and selling overvalued ones. B) the price of a share immediately incorporates new publicly available information that affects its value. C) dealers can ignore some new information on a share that affects its value. D) an investor can make above average returns in the stock market by doing careful research of public information about selected stocks.
In Exhibit 1, what is the consumer surplus depicted when the quantity is three units?
a. $4
b. $2
c. $1
d. $0
Full pass-through means that a 10°/o rise in the overseas price of an imported good leads to:
a. a 100% rise in the domestic price. b. a greater-than 10% rise in the domestic price. c. a 10% rise in the domestic price. d. a less-than 10% rise in the domestic price.
World commodity prices over the past 150 years have:
A. steadily decreased in both the short run and long run. B. decreased in the long run despite occasional short-run increases. C. remained constant in the long run despite occasional short-run fluctuations. D. steadily increased in both the short run and long run.