If economists calculate the GDP for 2009, using current prices of year 2009, what are they estimating?
(A) Net national product
(B) Real GDP
(C) Nominal GDP
(D) Depreciation
Ans: (C) Nominal GDP
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If the quantity demanded changes proportionately the same as price, demand is said to be
A) vertical. B) elastic. C) unit elastic D) inelastic.
Intellectual property rights are difficult to protect
Indicate whether the statement is true or false
At the equilibrium price, the quantity of the good that buyers are willing and able to buy
a. is greater than the quantity that sellers are willing and able to sell. b. exactly equals the quantity that sellers are willing and able to sell. c. is less than the quantity that sellers are willing and able to sell. d. there is no scarcity.
If we have a stock selling for $95.00 and a call option for this stock has a strike price of $82.00 and an option price of $13.60:
A. the intrinsic value is $0 since the option is out of the money. B. the intrinsic value of the option is $13.00 and the time value of the option is $0.60. C. the intrinsic value is $82.00 and the time value of the option is $13.60. D. the intrinsic value of the option is $0.60 and the time value of the option is $13.00.