Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
?Figure 5.2Refer to Figure 5.2. If the price of a hamburger increases from $2 to $4, the price elasticity of demand equals ________. Use the midpoint formula.
A. -0.33
B. -2.0
C. -3.0
D. -5.0
Answer: A
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Answer the following statement true (T) or false (F)
An investor will generally find that hiring an investment firm to actively manage his or her portfolio will
A) result in a higher return than would be received from an index mutual fund. B) be less expensive than simply placing money in an index mutual fund. C) result in a higher return, but will be more expensive than placing money in an index mutual fund. D) result in about the same return, but be more expensive than placing money in an index mutual fund.
Permanent price differentials among resources are explained by which of the following reasons?
a. movement from lower pay to higher pay b. movement from no benefits to higher benefits c. differences in the time and money involved in developing the necessary skills d. none of the above explain permanent price differentials in resources
Gold standard is an arrangement whereby the currencies of most countries are convertible into gold at a fixed rate
Indicate whether the statement is true or false