The original Dow Jones Industrial Average (DJIA) contained ____________ stocks, while the DJIA now consists of ____________ stocks.
A. 10; 500
B. 11; 30
C. 15; 50
D. 20; 60
Answer: B
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Suppose per capita real GDP grows by 7% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double?
A) 7 years B) 10 years C) 4.9 years D) none of the above
A consumer's willingness to trade one good for another can be expressed by the consumer's
A) indifference curve. B) marginal rate of substitution. C) Both A and B above. D) None of the above.
A shift in the supply curve for gasoline in the United States would result if
A. a 50-cent tax on gasoline was enacted by Congress. B. Congress and the president allowed oil to be drilled in previously restricted areas. C. new methods were discovered for recovering oil from wells previously considered dried up. D. All of the choices are true.
Evaluate the following statement: "The market price of a good reflects its highest-valued alternative use."
Indicate whether the statement is true or false.