Bountiful Tractors has a share price of $60, retained earnings of $2 per share, and a dividend yield of 2 percent. What is Bountiful Tractor’s price-earnings ratio?

Which of the following is NOT one of the functions of money?

A) protection from increases in prices of goods and services B) store of value C) medium of exchange D) unit of accounting

Based on Table 3.1, if the world price of computers is four pairs of shoes, then the optimal strategy for each country would be

A) to specialize in shoes. B) to specialize in computers. C) for Mexico to specialize in shoes, and the United States in computers. D) for the United States to specialize in shoes, and Mexico in computers. E) None of the above.

Which of the following terms refers to price elasticity of demand calculated over a range of prices?

A. Unit elasticity B. Cross-price elasticity of demand C. Point elasticity of demand D. Arc elasticity of demand

In the market for land, if the supply of land is perfectly inelastic, an increase in the demand for land will result in a(n)

A) increase in the real interest rate. B) increase in economic rent. C) decrease in the equilibrium price. D) increase in the quantity supplied of land.