A stock is a measure defined:
A. at a point in time.
B. per unit of time.
C. in nominal terms.
D. in real terms.
Answer: A
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Customer discrimination against female realtors ________ the number of female realtors and ________ their perceived value of marginal product
A) decreases; decreases B) decreases; increases C) increases; decreases D) increases; increases
Suppose an entrepreneur commits to a production schedule but underestimates the market price for his products. What will be true about his current level of production?
a. Losses will be very high. b. Marginal cost will be less than marginal revenue. c. Marginal cost will be more than marginal revenue. d. Average total cost will exceed price. e. Total fixed costs will be too low.
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.According to the figure shown, if Sarah puts forth low effort, then Joe should:
A. put forth high effort. B. give an ultimatum. C. put forth low effort. D. leave the market.
The price of a new textbook increased from $100 to $120 in one year, while the price of a used textbook increased by 10 percent. What happened to the relative price of a used textbook?
A. It remained constant. B. It increased by 10 percent. C. It decreased by 20 percent. D. It can't be determined without knowing the nominal price of the used textbook in at least one of the years.