The second welfare theorem of economics states that if preferences are convex, then any Pareto optimal allocation could be achieved as a competitive equilibrium after some reallocation of initial endowments.

The curvature of the price yield curve for a given bond is referred to as the bond's

A) modified duration.
B) immunization.
C) sensitivity.
D) convexity.
E) tangency.

The more ____ a decision maker can be about who may experience benefits or costs from a particular decision,the more likely it is that ethical decisions will be made.

A) tentative
B) general
C) specific
D) inclusive

​Jim is haggling with a car dealer on the price of a used car.During the bargaining,the storekeeper discovers that the car's stereo is better than he or Jim originally realized.If Jim is a huge music fan,the total surplus available from the sale

A) ​Increases
B) Decreases
C) Is not affected
D) ​All of the above

What can underwriters likely do for new IPO issues with uncertain market demand from investors?

A) undertake the issue on a best efforts basis
B) reduce the spread
C) cut short the roadshows
D) apply a shelf prospectus for the issue

Jackson is making a sales call on Oceanic Enterprises tomorrow. This afternoon, he sent a box of chocolates to the firm's purchasing manager with a note that said, "Tomorrow is your lucky day." What kind of approach was Jackson using?

A) Curiosity
B) Product
C) Opinion
D) SPIN
E) Customer benefit

According to the quantity equation, the price level would change less than proportionately with a rise in the money supply if there were also either a

A) rise in output or a rise in velocity.
B) rise in output or a fall in velocity.
C) fall in output or a rise in velocity.
D) fall in output or a fall in velocity.