The theory that there are no predictable trends in securities prices that can be used to "get rich quick" is the
A) dartboard theory.
B) random walk theory.
C) Wall Street theory.
D) inefficient market hypothesis.
Answer: B
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The point where the indifference curve is tangent to the budget line
A) is the best affordable point. B) is where the marginal rate of substitution exceeds the relative price by as much as possible. C) is a point on consumer's demand curve. D) All of the above answers are correct.
If Luxury Spas, Renew Spas, and Relax Spas are all competing in the spa market and Relax Spas consistently is the first to change prices, Relax Spas might be ________.
A) signaling to the other firms to consistently raise their prices B) offering to be the price leader C) signaling to the other firms to consistently lower their prices D) signaling to the other firms to consistently maintain their prices
Apple is an American company, but its iPhones are assembled in China. The sale of each iPhone then is counted in US GDP as:
A. consumption. B. investment. C. an import. D. an export.
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).Recall the Application. Because hops are inputs in the production of beer, an increase in the production of beer resulted in:
A. an increase in the demand for hops. B. a decrease in the demand for hops. C. an increase in the quantity demanded for hops. D. a decrease in the quantity demanded for hops.