Why has the pace of structural change in financial markets accelerated in recent years?
What will be an ideal response?
The pace of structural change has accelerated dramatically in the past few years, driven by (1) ongoing technological advances in computing and communications and (2) increasing globalization. The former dramatically lowered the importance of a physical location of an exchange-as new technology allowed the rapid low?cost transmission of orders across long distances-while the latter encouraged unprecedented cross?border mergers of exchanges, integrating larger pools of providers and users of funds.
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"A competitive market achieves economic efficiency by maximizing the sum of consumer surplus and producer surplus." This statement
A) is true only if there are no positive or negative externalities in the market. B) is true only if there are positive externalities in production in the market. C) is true in theory, but economic efficiency cannot be achieved in a real market. D) is true only if there are no negative externalities in the market.
Globalization has most likely occurred for which of the following reasons?
a. International agreements and treaties between countries have encouraged greater trade. b. Expanding cultural connections between people around the world. c. Expanding economics connections between people around the world. d. Increased military spending.
The short run for the industry is defined as a period
a. too brief for new firms to enter the industry. b. too brief for old firms to leave the industry. c. in which the number of firms in the industry is fixed. d. All of the above are correct.
The elasticity of a straight-line demand curve is the same as its slope
a. True b. False Indicate whether the statement is true or false