Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product
a. True
b. False
Indicate whether the statement is true or false
False
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A large and diverse community has suffered a two-month drought
In attempting to deal with the crisis, four identifiable groups emerge: one decides to pray, a second decides to engage in a rain dance, a third decides to use modern meteorological principles and "seed" the clouds, and a fourth decides to do nothing. From the standpoint of economic theory, A) individuals in the first and second groups are acting irrationally and inefficiently. B) individuals in each group are acting efficiently, given their own values and understanding of ends and means. C) the third group is the smartest. D) the fourth group is the most selfish.
Using the market shares in the table above, if Widgotech buys Widgette the HHI will
A) stay the same. B) rise by 1 point. C) rise by 10 points. D) rise by 18 points.
According to the efficient markets hypothesis, who should earn the highest risk-adjusted return on stocks?
A) a financial expert who can devote considerable time to research B) the average investor who doesn't do too much research C) someone throwing darts at possible stock picks D) all of the above should earn the same average return
Refer to Scenario 17.1. If the threshold educational level y* is set at 10,
A) only individuals in Group A will attain it. B) only individuals in Group B will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.