The ________ is the rate of change of the ________.
A. rate of inflation; CPI
B. current year price index; base year price index
C. CPI; rate of inflation
D. base year price index; current year price index
Answer: A
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When the good on the vertical axis is a composite good, the slope of the budget line is equal to minus the price of the good on the horizontal axis.
Answer the following statement true (T) or false (F)
Lenders generally want a higher interest rate to compensate them when loans stretch over a longer period because:
A. lenders want to be compensated for being unable to get their money back quickly. B. the opportunity cost increases over time. C. there's more uncertainty about potential future investment opportunities. D. All of these are true.
In the year after the stock market crash of 1929, stock prices on average ___
a. were lower than they had been in decades b. were lower than in 1929 but higher than in the mid-1920s c. rebounded to a level higher than in 1929 d. cannot be reliably calculated because no buyers could be found for many stocks, and hence no prices were reported
The first sale to the general public of stock in a corporation is referred to as
A. A public bond offering. B. An initial public offering. C. A public stock auction. D. An original public sale.