The theory of consumer choice
a. underlies the concept of the demand for a particular good.
b. underlies the concept of the supply of a particular good.
c. ignores, for the sake of simplicity, the trade-offs that consumers face.
d. can be applied to many questions about household decisions, but it cannot be applied to questions concerning wages and labor supply.
Answer: a. underlies the concept of the demand for a particular good.
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________ is the ease with which a financial security can be exchanged for money
A) The face value B) The rate of return C) Risk D) Liquidity
Last year due to the increased rainfall there was a plentiful supply of blueberries which caused their price to drop. Bakeries regularly produce and sell blueberry pie. Considering the market for blueberry pies, what factor of supply has been affected, and what was the overall effect on the supply?
A. The price of an input has been affected; supply will increase. B. The price of an input has been affected; supply will decrease. C. The new technology has been affected; supply will increase. D. The number of sellers has been affected; supply will increase.
Beta measures the relative risk of a company's stock relative to overall risk in the stock market
Indicate whether the statement is true or false
An example of a private good would be
a. a library book. b. a rose garden. c. an internet radio subscription. d. a sleeping bag.