The lion's share of purchases and transactions in the U.S. economy are made with coins and paper money
a. True
b. False
Indicate whether the statement is true or false
False
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As capacity utilization in an economy rises:
a. firms sell their fixed assets to remain solvent. b. the gap between the potential output and actual output widens. c. firms reduce their demand for labor. d. employment of inputs by firms declines. e. firms add more factories and machines and increase output.
The efficient markets theory of stock prices, implies that
a. mutual funds are the best means of investing in the stock market b. it's better not to invest in the stock market at all c. you should only invest in the stock market if you have inside information d. you should alter your portfolio frequently to keep up with the quick movements of the market e. you can do as well on the stock market as an expert, even if you pick your stocks randomly
The highest form of competition is called
a. arbitrage. b. monopolistic competition. c. equilibrium. d. perfect competition.
The classical school
A. was the dominant school of economic thought until the Great Depression. B. was the dominant school of economic thought after the Great Depression. C. believed that the economy was basically unstable. D. believed wages and prices were rigid downwards.