What happens in the primary market?
A) primary inputs like electricity are sold
B) a corporate financial manager will resell previously issued shares of stock
C) newly issued claims are sold by the borrowing firm to the initial buyer
D) already issued claims are sold from one investor to another
Answer: C
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When firms in monopolistic competition are making an economic profit, firms will
A) enter the industry, and demand will increase for the original firms. B) exit the industry, and demand will increase for the firms that remain. C) exit the industry, and demand will decrease for the firms that remain. D) enter the industry, and demand will decrease for the original firms.
When the English pound appreciated against a colonial currency, this signaled
(a) that colonists needed more colonial currency to buy an English pound. (b) that colonists needed less colonial currency to buy an English pound. (c) that colonists needed more colonial and Spanish currency to buy an English pound. (d) nothing of economic importance.
Total cost divided by the total number of inputs is called:
a. marginal cost b. average cost c. total cost d. variable cost
In year 1, the actual budget deficit was $200 billion and the cyclically adjusted deficit was $150 billion. In year 2, the actual budget deficit was $225 billion and the cyclically adjusted deficit was $175 billion. GDP was $1000 billion in year 1 and $1005 billion in year 2. It can be concluded that fiscal policy from year 1 to year 2 was:
A. expansionary. B. contractionary. C. proportional. D. inflationary.