A share of stock is a
A) certificate of ownership and claim to the profits made by a firm.
B) collection of funds that travels the world looking for the highest return.
C) form of investment in physical capital.
D) set of demanders and suppliers for the savings of households.
E) promise to pay specified sums of money on specified dates.
A
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In a monopolistically competitive market, the consumer receives the benefit of
A) production at minimum average cost. B) production where price equals marginal cost. C) product differentiation. D) allocative efficiency.
Transfer payments are included in the government budget deficit but not included in the government purchases component of GDP
a. True b. False Indicate whether the statement is true or false
A supply curve:
a. has a negative slope. b. is based on the assumption of a stable demand curve. c. illustrates the negative relationship between price and quantity supplied. d. illustrates the positive relationship between price and quantity supplied. e. shifts about in random fashion.
Suppose Katrina always buys exactly 5 Rain Forest Bars each week, regardless of whether they are regularly priced at $1 or on sale for $0.50 . Based on this information, what is Katrina's price elasticity of demand for Rain Forest Bars?
a. 0 b. -1 c. Infinity d. Answer cannot be determined