Historically, the market prices of most natural resources (adjusted for inflation) have
a. increased.
b. remained stable.
c. remained stable or decreased.
d. decreased.
c
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Refer to the scenario above. The opportunity cost of producing good Y equals:
A) gain in Good Y / gain in Good X. B) loss in Good X / gain in Good Y. C) loss in Good X / loss in Good Y. D) gain in Good X / gain in Good Y.
Which of the following statements is true?
A) The future growth of a stock is more certain than the payments of a bond. B) Differences of opinion about a bond's future may vary considerably but there is less difference about a stock's future. C) A stock can possibly pay dividends forever, but bonds have a fixed number of payments. D) Bonds represent partial ownership in a firm but stocks do not.
________ is defined as the value of a household's assets minus the value of its liabilities
A) Personal household consumption B) Planned household investment C) Household income D) Household wealth
If two goods are complements, their cross elasticity of demand will normally be
a. zero. b. a negative number. c. a positive number. d. infinity.