When Zynga, the company behind the social games CityVille and Words With Friends, sold stock to the public for the first time in December 2011, funds were being raised in a ________ market, and when those newly issued shares are resold to other
buyers, the sales take place in a ________ market.
A) primary; secondary B) secondary; secondary
C) secondary; primary D) primary; primary
A
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With respect to unemployment, the classical model states that
A) unemployment of any kind cannot exist. B) involuntary unemployment will always exceed voluntary unemployment. C) unemployment fluctuates with the interest rate. D) only voluntary unemployment exists.
How will the purchase of $100 million of government securities by the Federal Reserve change bank reserves and total checking account deposits in the banking system as a whole? Assume that banks do not hold any excess reserves, that households and firms
do not change the amount of currency they hold, and that the required reserve ratio is 20 percent. What will be an ideal response?