The value of a real option varies with all of the following, EXCEPT:
a. the range of outcomes.
b. the rate of interest.
c. the rate of unemployment.
d. the delay in resolving uncertainty.
C
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According to the text application, the IPCC estimates that
a. Africa is the only continent vulnerable to climate change b. ecological risk to North America will vary within the region c. Europe should experience shorter growing seasons d. Latin American should experience higher crop yields e. all of the above
Commodity speculators persuade people to start economizing in their consumption of a good as soon as the speculators foresee an increased future scarcity by causing
A) futures prices, expected future prices, and current prices to fall. B) futures prices, expected future prices, and current prices to rise. C) futures prices and expected future prices to fall and current prices to rise. D) futures prices to rise, expected future prices to fall, and current prices to rise. E) futures prices and expected future prices to rise and current prices to fall.
A concentration ratio measures
A) the average size of the firms in the industry. B) the sales of the three largest firms in the industry minus the costs of these three largest firms in the industry. C) the share of industry sales accounted for by the largest firms in the industry. D) the excess capacity found in a particular oligopolistic industry.
Fiat money has value because it
a. is backed by gold. b. can be used to buy goods and services. c. can be exchanged for precious metals at a fixed price. d. can be divided into smaller units. e. All of the above are correct.