A stock index measures the:
a. change in dividend payments of a group of stocks.
b. fluctuation in the price-to-earnings ratio of each share.
c. change in the trading volume in the stock exchange.
d. price movements of a group of stocks.
e. change in the number of enlisted companies.
d
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When a good suddenly becomes more scarce in a free market, caused by a significant increase in consumer demand, then
A) it is a clear sign that households have become more greedy. B) the price will tend to rise rapidly in light of the greater scarcity. C) suppliers will gain in the exchange and buyers will lose. D) the law of demand will be contradicted because people will be buying more, not less, at a higher price. E) all of the above are true.
If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $98, its marginal revenue for the last unit sold is
A. $2. B. $89. C. $10. D. $78.
Suppose there are two identical factories on a river. Both require clean water for their production processes. The upstream firm gets clean water from the river and dumps dirty water into the river. The downstream firm must clean the water it gets from the river before it can use the water and later it dumps dirty water into the river. In this situation
A. the upstream factory's private costs are lower than its social costs since it passes the costs of the dirty water on to the downstream firm. B. the private costs of the downstream firm are greater than the private costs of the upstream firm and the social costs are less than the private costs for both firms. C. the private costs of the upstream firm are less than its social costs while the social costs of the downstream firm are less than its private costs. D. the private costs of the two firms are the same since both dump dirty water into the river.
Human beings are generally very good at accurately estimating probabilities
Indicate whether the statement is true or false