Stock markets deal
a. almost exclusively in newly issued stocks.
b. in previously issued stocks.
c. in both newly issued and previously issued stocks, but they do not deal in bonds.
d. in large amounts of both newly issued and previously issued stocks and bonds.
b
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An aggregate production function:
A) shows various combinations of labor and capital that can be used to produce a particular good. B) shows various quantities of two goods that can be produced at a given cost. C) shows the relationship between a country's GDP and its factors of production. D) shows the relationship between a country's output and its price level.
The long-run Phillips curve is the relationship between
A) unemployment and the price level at full employment. B) unemployment and the inflation rate at the expected price level. C) inflation and unemployment when the economy is at full employment. D) inflation and real GDP at full employment. E) inflation and the expected inflation rate.