If future changes in stock prices are unpredictable, then we say that the stock prices follow a
A) random walk.
B) straight and narrow path.
C) meandering path.
D) generalized walk.
A
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As the number of years of schooling completed increases, the expected private return and private cost of education
(a) increase at roughly the same rate. (b) increase at different rates with expected private return increasing at a slower rate than private cost. (c) increase at different rates with expected private return increasing at a faster rate than private cost. (d) do not increase.
Which of the following is included as government purchases in gross domestic product (GDP)?
a. Social Security payments to elderly citizens b. Welfare benefits distributed to the poor c. Outright grants from government to recipients d. Payments to clerical workers hired by government e. Unemployment compensation benefits
Suppose Larry's Lariats produced 25,000 lassos and sold each for $10. What was the profit for this company?
A. $25,000 B. $250,000 C. $125,000 D. Cannot calculate profit without more information.
Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: In order to maximize utility subject to her budget constraint, this consumer should buy how many units of good X?
In order to maximize utility subject to her budget constraint, this consumer should buy how many units of good X?
A. 6 B. 0 C. 8 D. 12 E. 4