Kelly buys a share of stock for $20 that she sells a year later for $15. Kelly's rate of return is:
A. positive 33 percent.
B. negative 33.3 percent.
C. negative 25 percent.
D. negative 75 percent.
C. negative 25 percent.
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An increase in Todd's wealth from $2 million to $4 million raises his utility from 400 units to 500 units. If he has a utility of wealth curve with the typical shape showing risk aversion, then with a wealth of $6 million his utility might be
A) 500 units. B) 570 units. C) 600 units. D) 620 units.
A surplus item is
A) the import of goods or services that is not needed by residents of a country. B) the import or export of products that are by-products of the manufacturing of export goods. C) any transaction that leads to a receipt by a resident of a country or its government. D) any transaction that leads to a payment by a resident of a country or its government.
The absolute price of a good is the price of that good in terms of another good
Indicate whether the statement is true or false
Competition means that:
A. sellers can manipulate market price by causing product scarcities. B. there are independently acting buyers and sellers in each market. C. a product can be purchased at a number of different prices. D. there is more than one seller in a market.