The price of a certain farm product was $1.25 in the base period when the parity ratio was 100. If the index of prices paid by farmers is now at 140, then the parity price of this farm today should be:
A. $0.90
B. $1.50
C. $1.75
D. $2.00
C. $1.75
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If a number greater than the mean of a series of observations is added to the series, the new mean is:
A) smaller than the original mean. B) greater than the original mean. C) same as the original mean. D) either greater or smaller than the original mean depending on the number of observations in the series.
Inferior goods are those for which demand increases as
A) the price of a substitute falls. B) the price of a substitute rises. C) income decreases. D) income increases.
The accounting profit of a business firm is also called:
a. royalty income. b. net income from equity. c. compensatory income. d. windfall gain. e. net operating income.
Which of the following characteristics of money can be found in bars of gold?
a) portability, uniformity, and stability in value b) portability and acceptability c) uniformity, acceptability, and stability in value d) uniformity and durability e) portability and stability in value