The fee charged by the seller of an option is referred to as the
A) market price.
B) option premium.
C) futures fee.
D) call price.
B
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The above table gives the demand schedule for Billy Bob's BBQ ribs. If the price of a pound of ribs falls from $3 per pound to $1 per pound, what is the change in Billy Bob's total revenue?
A) $42 B) $24 C) -$2 D) -$24
The demand for factor is driven by the demand for goods and services produced by that factor of production. This phenomenon is referred to as
A) elastic demand. B) joint demand. C) inverse demand. D) derived demand.
A(n) _____ is a budget philosophy that was followed prior to the Great Depression that aimed at matching annual revenues with outlays, except during war time
a. annually balanced budget b. annual surplus budget c. biennial deficit budget d. biennially balanced budget e. cyclically balanced budget
Economic rent is earnings in excess of what?
a. opportunity cost b. total costs c. taxes d. hidden costs