When Carvana sold stock to the public in its IPO, it did so through the New York Stock Exchange. People who bought the shares
A) were promised to be repaid their investment plus interest.
B) did so in the indirect finance market.
C) own part of the company.
D) All of the above are true.
Answer: C
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An economic model suggests that an additional year of education increases a student's future wages by 15 percent. Using this model, answer the following questions: a) Gary completes 8 years of education, and John completes 9 years of education
If Gary earns $20 per hour, how much is John expected to earn? b) John completes 9 years of education, and Kevin completes 12 years of education. Given John's earnings [as calculated in a)], how much is Kevin expected to earn? c) Is there any limitation to such a model? Explain your answer.
During the 1970s, demand-management policy: a. continued to be highly successful in curing the economy's economic problems
b. was found to be highly unsuitable in periods of stagflation such as the decade of the 1970s. c. was so unsuccessful that economists advised a return to the pre-World War II philosophy of fiscal policy. d. was unsuccessful because automatic stabilizers no longer influenced the economy. e. was unsuitable because it affected aggregate supply more than aggregate demand.
What is the difference between a positive statement and a normative statement?
a. A positive statement is contestable; a normative statement is testable. b. A positive statement is subjective; a normative statement is contestable. c. A positive statement is testable; a normative statement is objective. d. A positive statement is objective; a normative statement is contestable.
Use a supply and demand diagram to show how migration affects wages in a high-wage country and a low-wage country
