During the last sixty years, the broad stock market (Standard and Poor's 500 Index) yielded an average annual nominal rate of return of approximately ____ and real rate of return of approximately ____
a. 5 percent; 2 percent
b. 10 percent; 7 percent
c. 17 percent; 9 percent
d. 9 percent; 17 percent
B
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Which of the following will cause the demand curve for a normal good to shift to the right?
a. a decrease in income b. an increase in the price of a complementary good c. a decrease in the price of the good d. an increase in the price of a substitute good e. an expectation of a future price decline
If a pair-wise majority vote was held and the voters' preferences are shown in the table, which of the following is true?
A. The preferences of each member is transitive.
B. The collective preferences of the group are not transitive.
C. The outcome of the vote will change, depending on the order of the vote.
D. All of these are true.
The hypothesis of political business cycles is based on the assumption that a vertical Phillips curve always holds
a. True b. False Indicate whether the statement is true or false
As firms exit a competitive price-searcher market, profits of remaining firms
a. decline and product diversity in the market decreases. b. decline and product diversity in the market increases. c. rise and product diversity in the market decreases. d. rise and product diversity in the market increases.