Stock prices start to rise
A) when investors are confident that the economy is more than 6 months into an economic recovery.
B) when investors begin to expect an economic recovery will soon begin.
C) when investors believe an economic recovery has already begun.
D) when the unemployment rate begins to decline following a recession.
Answer: B
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If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
A) indeterminate. B) perfectly elastic. C) perfectly inelastic. D) unit elastic. E) none of the above.
Cartels usually succumb to divisive forces caused by: a. stringent enforcement of a cartel agreement
b. the similarity of production costs across member firms. c. members cheating by giving secret discounts. d. insufficient profits compared to independent operations.