The Dow Jones Industrial Average is:
A. the broadest measure of stock market performance.
B. an index that measures the value of purchasing 100 shares in each of the corporations that make up the index.
C. an index made up of the stock prices of the 100 largest corporations in the U.S.
D. the average price of stock in 30 of the largest companies in the U.S.
Answer: D
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For some fisheries in the U.S., the state or federal government imposes "gear restrictions" that limit the size of boats, nets, or other equipment that may be used to harvest the fish in a given body of water
The purpose of the gear restrictions is to: A) prevent everyone from using the common property resource (fish). B) make it harder for other members of society to harvest the resource. This reduces the opportunity cost of the resource for other members of society, and the marginal social cost is closer to the private cost. C) increase the private cost of using the resource so that the private cost is closer to the marginal social cost. D) maintain traditional ways of harvesting fish, which is valuable for promoting tourism.
If the inflation rate is 2 percent and nominal wages increase by 1 percent, what happens to real wages?
a. They rise by 1 percent. b. They fall by 1 percent. c. They remain constant. d. They fall by 2 percent. e. They rise by 3 percent.