In reading the stock market quotes in the newspaper, the column with the heading "Ticker" gives the
A. number of shares of the stock traded that day.
B. the full name of the company whose stock is being studied.
C. stock symbol for the company.
D. highest price the stock has sold for in the past year.
Answer: C
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If the government allowed a free market for transplant organs such as kidneys to exist, critics argue that such a market would
a. not reduce the shortage of organs. b. benefit rich people but not poor people. c. be inefficient because markets are not good at allocating scarce resources. d. be inferior to a plan imposed by a benevolent dictator.
If the absolute value of the price elasticity of demand for tickets to a football game is 2, then if the price increases by 1 percent, quantity demanded decreases by:
A. 4 percent. B. 0.5 percent. C. 1 percent. D. 2 percent.
Economists become scientists when they deal with ______.
a. contestable analysis b. normative analysis c. positive analysis d. subjective analysis
The main purpose of most tariffs and quotas is to
A) raise revenue for the government. B) reduce the prices consumers pay for goods and services. C) reduce the foreign competition that domestic firms face. D) improve the quality of goods and services imported into the country.