Which of the following statements is correct?
A. In large measure, economics is the study of how people make choices.
B. If poverty was eliminated there would be no reason to study economics.
C. Economics is a natural science.
D. Economic analysis can be used to explain how societies, but not individuals, make decisions.
Answer: A
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Jill Borts believes that the price elasticity of demand for her economics textbook is relatively inelastic. She argues "I was told I had to purchase a book written by Hubbard and O'Brien that is required by my instructor
If I wanted to buy a mystery novel I would have many authors to choose from. Therefore, the demand for mystery novels is more elastic than the demand for my textbook." Is Jill correct? A) She is correct that the textbook has a more inelastic demand, but that is because most students pay for their textbooks with credit cards. Most people pay for novels and other books with debit cards. B) She is correct. C) She is confused. She should have concluded that the textbook has a more elastic demand than a novel. D) The demand for the textbook is more inelastic, but Jill's reasoning is incorrect. The reason the textbook has an inelastic demand is that it is more expensive than any novel.
Which policy measure requires investment banks to make public their analysts' recommendations?
A) Sarbanes-Oxley Act of 2002 B) Global Legal Settlement of 2002 C) Gramm-Leach-Bliley Act of 1999 D) Riegle-Neal Act of 1994
The figure shown portrays a game using a:
A. decision tree.
B. decision matrix.
C. flowchart.
D. graph.
Currently, about ____ of U.S. households own stock, either directly or through an equity mutual fund
a. 10 percent b. 20 percent c. 50 percent d. 80 percent