The term "random walk" means that stock prices are fairly predictable
a. True
b. False
Indicate whether the statement is true or false
False
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U.S. households use about 75 gallons of water per capita per day on the average because
A) the price they must pay for water is low. B) there is so much fresh water in the U.S. C) they use water in irrational ways. D) water is a basic necessity of life. E) water is a basic right.
If two goods are complements, then their
A) indifference curves are positively sloped straight lines. B) indifference curves are negatively sloped straight lines. C) indifference curves are L-shaped. D) marginal rate of substitution is infinity.
A production function of the form Q = 150L.75 K.50exhibits ________ in the long run.
A. diminishing returns to the variable input B. increasing returns to scale C. constant returns to scale D. decreasing returns to scale
Describe the consumer equilibrium in the indifference curve/budget line model
What will be an ideal response?