When we describe stock prices as following a random walk, we mean that future changes in stock prices are
A) unpredictable.
B) increasing.
C) decreasing.
D) constant.
A
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In 2011, the per-capita GDP in the United States, in 2005 dollars, was about
A) $17,500. B) $27,500. C) $43,000. D) $47,500.
The game in Scenario 13.10 is
A) variable-sum. B) constant-sum. C) cooperative. D) a Prisoners' Dilemma. E) a Cournot Production Cross.
Which of the following items is most likely to be an inferior good?
a. bus tickets b. airline tickets c. housing d. stereo equipment e. home computers
Suppose that you own a house. What is the opportunity cost of living in the house?
A. There is no opportunity cost because you own the house. B. There is no opportunity cost unless you could set up a business in the house. C. The opportunity cost is the rent you could have received from a tenant if you didn't live there. D. The opportunity cost is the cost of your monthly mortgage payment plus bills.